WISER: Well-being in a Sustainable Economy Revisited

Project Information

WISER

Grant agreement ID: 101094546

DOI

10.3030/101094546

EC signature date 31 July 2023

Start date 1 October 2023

End date 30 September 2026

Funded under

• Culture, creativity and inclusive society

Total cost

€ 2 915 673,75

EU contribution

€ 2 915 673,25

Coordinated by

OPEN UNIVERSITEIT NEDERLAND
Netherlands

Periodic Reporting for period 1 - WISER (WISER: Well-being in a Sustainable Economy Revisited)

Reporting period: 2023-10-01 to 2024-12-31

Summary of the context and overall objectives of the project

The WISER project challenges GDP-centric economic models, supporting a well-being-focused framework that integrates sustainability, inclusiveness, and productivity. It aims to redefine economic development by balancing growth with both social and environmental well-being. The project addresses the lack of comprehensive well-being metrics and seeks to reshape policymaking by offering an alternative approach that enhances quality of life while reducing economic inequality and environmental degradation.

Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far

• Developed a theoretical framework moving beyond GDP as the main progress indicator.
• Created a well-being database that will be used as input for a dashboard for policymakers with actionable metrics.
• Conducted scenario analyses and predictive modeling to guide sustainable policies.
• Explored links between well-being and productivity, social inclusion, and environmental sustainability.
• Engaged stakeholders through participatory workshops, AI-driven governance tools, and case studies across diverse regions.This study is in its initial stages and and has just recently been granted the ethics clearance and research license. Field survey to commence soon.

Progress beyond the state of the art and expected potential impact (including the socio-economic impact and the wider societal implications of the project so far)

• Developed a new framework that provides a way to produce economic growth that does not come at the cost of well-being.
• Developed a database at the regional level by combining different existing surveys and using advanced statistical methods.
• Developed a new metric for subjective well-being based on Big Data and machine learning.
• Established empirical evidence linking subjective well-being with economic productivity.
• Developed innovative policy modeling tools integrating environmental, economic, and social dimensions.
• Introduced participatory approaches, using AI and VR for governance and urban planning.
• Identified key factors for improving well-being efficiency and reducing defensive consumption.