In this paper, we attempt to show why the importance of relational goods compared to conventional goods and status goods threatens to decline in contemporary societies. In our point of view, the development of the relative significance of these three types of goods is not a consequence of...

In this paper, a formalization of Martin Seligman's concept of full life is presented by employing basic microeconomics. With the formalized version of the concept, it can be explained why people differ with respect to the levels of pleasant, engaged and meaningful life they are trying to...

In this paper, Happy Income is introduced as an indicator of physical and socio-psychic wellbeing. It is constructed on the assumption that socio-economic well-being is based on objective circumstances, such as personal income as well as on a subjective evaluation of life. In combining these...