The integration of economics and psychology has created a vibrant and fruitful emerging field of study. The essays in Economics and Psychology take a broad view of the interface between these two disciplines, going beyond the usual focus on "behavioral economics." As documented in this volume,...

Bruno S. Frey illustrates what he perceives to be the inspirational quality of economics and how this differs from the type of economics studied in many academic institutions. He introduces insights into economics from a psychological perspective, dealing with issues such as transformation of...

Revolutionary developments in economics are rare. The conservative bias of the field and its enshrined knowledge make it difficult to introduce new ideas not in line with received theory. Happiness research, however, has the potential to change economics substantially. Its findings, which are...

Reviews of the new approach. What can economists learn from happiness research? / Bruno S. Frey and Alois Stutzer -- Developments in the measurement of subjective well-being / Daniel Kahneman and Alan B. Krueger -- Hedonic psychology and the ambiguities of "welfare" / Mark Kelman -- Economic...

Cover -- Zum Inhalt / Zum Autor -- Titel -- Vorwort -- Inhaltsverzeichnis -- Einführung -- 1. Der Markt -und darüber hinaus -- Teil A: Der Verdrängungseffekt -- 2. Alltagserfahrungen -- 3. Psychologischer Hintergrund -- 4. Integration in die Wirtschaftstheorie -- 5. Der Übertragungs-Effekt...

What makes people happy in life? This crucial question has the potential to shake up economics. In recent years, dissatisfaction with the understanding of welfare in economics and new opportunities for empirical study of people's subjective well-being have spurred impressive and stimulating new...