This article is dedicated to the analysis of initiatives involving citizens in the development of indicators. It is based upon two examples of initiatives seeking to identify, first of all, what wealth is, what really counts, and what “well-being” means for the citizens of a territory, and, secondly, developing indicators to account for this. These examples are discussed on the basis of a pragmatic analytical framework. Particular attention is devoted to the question of “data” emerging from participatory approaches and to their translation by indicators.