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 …

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 …

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