Beyond GDP and new indicators of well-being: is it possible to sum up objective and subjective data in the perspective of constructing new indicators?

Measuring and monitoring well-being of societies require a complex and comprehensive framework and integrated approaches at conceptual and methodological levels. This perspective is urged not only by academic researchers but also by other important organizations and institutions. In the context of this complexity, the integration of objective and subjective information represents one of the crucial challenges. In order to manage the complexity, a correct methodological approach is required, including a solid conceptual framework (conceptual definitions) and a “composite” process (analytical tools and strategies), carried out through subsequent/consecutive steps (MULTI-STAGE) and different/alternative analytical approaches (MULTI-TECHNIQUE) (Maggino & Ruviglioni, 2008). The Multi-Stage Multi-Technique (MSMT) approach shows how the integration can be accomplished by taking into account the level of data production (micro and macro) and the different analytical solutions, among which the construction of composite indicators does not always represent the best and correct one. The paper’s goal is to describe a procedure able to yield results, not only statistically valid and consistent with reference to the defined conceptual framework, but also easy to read and interpret at policy level.