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What Happiness Research Can Tell Us About Self-Control Problems and Utility

Stutzer, Alois; Frey, Bruno S. - Institute for the Study of Labor (IZA) - 2006

Neoclassical economic theory rules out systematic errors in consumption choice. According to the basic view, individuals know what they choose. They are able to predict how much utility an activity or a good produces for them now and in the future and they can maximize their utility. This...

Persistent link: https://www.econbiz.de/10005703642

Economic Consequences of Mispredicting Utility

Frey, Bruno S.; Stutzer, Alois - Institute for the Study of Labor (IZA) - 2013

In a simple conceptual framework, we organize a multitude of phenomena related to the (mis)prediction of utility. Consequences in terms of distorted choices and lower wellbeing emerge if people have to trade-off between alternatives that are characterized by attributes satisfying extrinsic...

Persistent link: https://www.econbiz.de/10010884223

Does Marriage Make People Happy, Or Do Happy People Get Married?

Sutzer, Alois; Frey, Bruno S. - Institute for the Study of Labor (IZA) - 2005

This paper analyzes the causal relationships between marriage and subjective well-being in a longitudinal data set spanning 17 years. We find evidence that happier singles opt more likely for marriage and that there are large differences in the benefits from marriage between couples. Potential,...

Persistent link: https://www.econbiz.de/10005763704

Recent Advances in the Economics of Individual Subjective Well-Being

Stutzer, Alois; Frey, Bruno S. - Institute for the Study of Labor (IZA) - 2010

subjective wellbeing is often taken as a proxy measure for individual welfare. In our review, we intend to provide an evaluation …

Persistent link: https://www.econbiz.de/10008529124

Recent Developments in the Economics of Happiness: A Selective Overview

Stutzer, Alois; Frey, Bruno S. - Institute for the Study of Labor (IZA) - 2012

years, the dissatisfaction with the understanding of welfare in economics together with the new opportunities to empirically …. First, we refer to reviews of the literature, the measurement and the relationship of happiness research to welfare … references to the controversial question regarding the policy consequences of this new development. …

Persistent link: https://www.econbiz.de/10010662940

The Life Satisfaction Approach to Environmental Valuation

Frey, Bruno S.; Luechinger, Simon; Stutzer, Alois - Institute for the Study of Labor (IZA) - 2009

Approach (LSA) representing a new non-market valuation technique. The LSA builds on the recent development of subjective well …-being research in economics and takes measures of reported life satisfaction as an empirical approximation to individual welfare …

Persistent link: https://www.econbiz.de/10008574588