We explore the idea that happiness and psychological well-being are U-shaped in age. The main difficulty with this argument is that there are likely to be omitted cohort effects (earlier generations may have been born in, say, particularly good or bad times). First, using data on 500,000...

We explore the idea that happiness and psychological well-being are U-shaped in age. The main difficulty with this argument is that there are likely to be omitted cohort effects (earlier generations may have been born in, say, particularly good or bad times). First, using data on 500,000...

The ‘Coase theorem' has long been the idea most commonly associated with Ronald Coase's analysis in The Problem of Social Cost. Yet, Coase frequently argued late in his career that he has been misunderstood, and that the central message(s) of the article lay elsewhere. Though virtually all of...