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Information asymmetries are important in theory but difficult to identify in practice. We estimate the empirical importance of adverse selection and moral hazard in a consumer credit market using a new field experiment methodology. We randomized 58,000 direct mail offers issued by a major South...
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This paper asks whether the gap in subjective happiness between spouses matters per se, i.e. whether it predicts … household. The relation between happiness gaps and divorce may be due to the fact that couples which are unable to transfer … utility are more at risk than others. It may also be the case that assortative mating in terms of happiness baseline …
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effect on happiness. Specifically legal security and property rights, access to sound money, and freedom from excessive …
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In Sen's Capability Approach (CA) well-being can be defined as the freedom of choice to achieve the things in life which one has reason to value most for his or her personal life. Capabilities are in Sen's vocabulary therefore the real freedoms people have or the opportunities available to them....
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Happy people are healthier and more creative, productive, and sociable. Because of these positive effects of happiness …
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