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Multidimensional welfare analysis has recently been revived by money-metric measures based on explicit fairness principles and the respect of individual preferences. To operationalize this approach, preference heterogeneity can be inferred from the observation of individual choices (revealed...
Persistent link: https://www.econbiz.de/10011709621
The correct prediction of how alternative states of the world affect our lives is a cornerstone of economics. We study how accurate people are in predicting their future well-being when facing major life events. Based on individual panel data, we compare people's forecast of their life...
Persistent link: https://www.econbiz.de/10011308432
Are people condemned to an inherent level of experienced happiness? A review of the economic research on subjective … well-being gives reason to the assessment that happiness can change. First, empirical findings clearly indicate that people … of understanding variation in the process of adaptation. The modeling of happiness over the life course promises a …
Persistent link: https://www.econbiz.de/10010348918
Happiness is strongly associated with goal attainment, productivity, mental health and suicidal risk. This paper … greatest impact on happiness of men and women. The findings suggest that relative perceptions have a large statistically …'s happiness is more valued by female respondents. Satisfaction with household compared to personal income has a larger effect on …
Persistent link: https://www.econbiz.de/10012508051
best contender as the "maximand" in the contest, before the ladder‐of‐life question and felt happiness. Among the other …
Persistent link: https://www.econbiz.de/10011376247
Many politicians believe they can intervene in the economy to improve people's lives. But can they? In a social experiment carried out in the United Kingdom, extensive in-work support was randomly assigned among 16,000 disadvantaged people. We follow a sub-sample of 3,500 single parents for 5...
Persistent link: https://www.econbiz.de/10010246020
happiness and real GDP per capita are not significantly positively related. The principal reason that Paradox critics reach a … happiness. For some countries their estimated growth rates of happiness and GDP are not trend rates, but those observed in … cyclical expansion or contraction. Mixing these short-term with long-term growth rates shifts a happiness-GDP regression from a …
Persistent link: https://www.econbiz.de/10011450390
of others undercuts the tendency for happiness to grow with an increase in one's own income, and happiness remains fairly …, and the greater the shortfall, the less one's happiness. There is thus an asymmetry in the psychological roots of income … evaluations when income is rising vs. falling , and this causes a corresponding asymmetry in the response of happiness to the …
Persistent link: https://www.econbiz.de/10012604148
The Easterlin Paradox states that at a point in time happiness varies directly with income, both among and within … nations, but over time the long-term growth rates of happiness and income are not significantly related. The principal reason … vitiates the otherwise positive effect of own-income growth on happiness. Critics of the Paradox mistakenly present the …
Persistent link: https://www.econbiz.de/10012372750
Despite the burgeoning happiness economics literature, scholars have largely ignored explorations of how individuals or …
Persistent link: https://www.econbiz.de/10011664189