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What can Economists Learn from Happiness Research?
Frey, Bruno S.; Stutzer, Alois - Institut für Volkswirtschaftslehre, …
. We argue that reported subjective well-being is a satisfactory empirical approximation to individual utility and that …
Persistent link: https://www.econbiz.de/10005760911
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The Role of Income Aspirations in Individual Happiness
Stutzer, Alois - Institut für Volkswirtschaftslehre, …
's aspirations? In a direct empirical test, it is found that higher income aspirations reduce people's utility, ceteris paribus …. Individual data on reported satisfaction with life are used as a proxy measure for utility, and income evaluation measures are …
Persistent link: https://www.econbiz.de/10005585648
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Testing Theories of Happiness
Frey, Bruno S.; Stutzer, Alois - Institut für Volkswirtschaftslehre, …
Happiness research in economics takes reported subjective well-being as a proxy measure for utility and has already … understanding of utility in economics. Here, we study the introduction of income aspirations in individuals’ utility functions in …
Persistent link: https://www.econbiz.de/10005627769
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Should We Maximize National Happiness?
Frey, Bruno S.; Stutzer, Alois - Institut für Volkswirtschaftslehre, … - 2006
Cross-disciplinary ‘happiness research’ has made big progress in the measurement of individual welfare. This development makes it tempting to pursue the old dream of maximizing aggregate happiness as a social welfare function. However, we postulate that the appropriate approach is not to...
Persistent link: https://www.econbiz.de/10005627967