Motivated by both: academic research illuminating the diminishing returns nature of the relationship between income and subjective well-being, and the recent development of composite indices as alternatives to GDP, this paper seeks to analyze empirically the relationship between a variety of...

We argue that perceived fairness of the income generation process affects the association between income inequality and subjective well-being, and that there are systematic differences in this regard between countries that are characterized by a high or, respectively, low level of actual...

A comparison of three measures of subjective well-being indicates two areas of difference. First, life evaluation is less dependent on external circumstances than evaluation of the past year. Temporary changes in health, labor market status and income have a smaller impact on life evaluation...

The gap between the willingness to accept and willingness to pay is the outcome of incomplete valuation. The problem therefore is more about completing the valuation procedure. The first part of the solution involves two items: one is the inclusion of the direct and indirect income effects and...

The subjective well-being approach to environmental valuation is applied to analyze the valuation of greenhouse gas emissions. Dimensions like population and income are then incorporated into the valuation to get the fairness-adjusted marginal value of emissions. The results indicate that the...

The subjective well-being approach to the valuation of international development is applied to the Millennium Development Goals (MDGs). The rich countries have particular preferences for education, healthcare, and housing; they need compensation for failure to meet the targets by 2015. The poor...

Previous happiness research has explicitly assumed that subjective well-being is U-shaped in age. This paper sheds new light on this issue testing several functional forms. Using micro data from the World Values Survey on 44’000 persons in 30 economically well-developed OECD countries with...

In this paper, we revisit the association between happiness and inequality. We argue that the perceived fairness of the income generation process affects this association. Building on a two-period model of individual life-time utility maximization, we predict that persons with higher perceived...

In this paper, we revisit the association between happiness and inequality. We argue that the perceived fairness of the income generation process affects this association. Building on a two-period model of individual life-time utility maximization, we predict that persons with higher perceived...

Recent studies in economics of happiness focusing on the influence of different aspects of subjective well-being in transition countries. Here these countries are located in Eastern Europe. After aggregating a dataset which combines the World Values Survey and the European Values Survey, I use...