In this paper, we show that incorporating the relational dimension into an otherwise standard OLG model and focusing on dynamic leisure externalities leads to dramatically different predictions. Here we show that when the old perceive private and relational consumption as substitutable goods, a...

In this paper, we show that incorporating the relational dimension into an otherwise standard OLG model and focusing on dynamic leisure externalities leads to dramatically different predictions. Here we show that when the old perceive private and relational consumption as substitutable goods, a...

This paper aims to establish systematic relationships between the two rapidly growing research streams on the socio-economic determinants of happiness and health. Although they have been pursued quite independently by different communities of researchers, empirical evidence points to very...

Tibor Scitovsky has struggled over the years to give us a precise definition of "quality", but it has generally been related to "joy" in consumption. His book THE JOYLESS ECONOMY (1976), remains a major critique of modern and especially economic values. Based on "Happiness Paradox", in this...

The parable of the Good Samaritan is not only part of the spiritual, ethical, and artistic heritage of the West; this biblical passage has also been used in economics. Some leading economists, J. Buchanan and A. Sen, in particular, have devoted special attention to this old story. This paper, in...

In this paper we analyse both positive and negative aspects of an emerging civil economy’s district. We consider the problems that arise in two of the principal “third sector” economic activities (the non-profit enterprise and the co-op) and we highlight both advantages and rationality of...

"Written with the attempt to tell credible history and possible scenes, in order to anticipate still latent tendencies, or in order to imagine communities and societies more civil, richer than reciprocity, in all its shapes. " (p. xv). From this ambitious premised the author of the issue takes...