This chapter explores accounts of individual and social welfare underlying contemporary welfare economics. It argues that there is a one-to-one mapping between three prominent approaches to welfare assessment and three philosophical accounts of individual well-being: while standard economics is...

This paper proposes a way to empirically measure the impact of capabilities and functionings on the individual perception of urban quality of life. Specifically, we investigate the role played by amenities (including social interactions) and disamenities for a sample of 508 resident population...

This article considers a hypothetical corporate decision that will generate $5 million of profit today but result in the loss of one human life in ten years. This example is not abstract; corporations in a range of businesses engage in decisions and oversight that affect risk to human life:...

Finance is a key milestone for AI. Imagine coming back from vacation and talking to your virtual assistant about your investment portfolio and wondering how she does it, quarter after quarter, year after year. Managing money is the real test for human AI. It has to talk, it has to think, it has...

Subjective measures of well-being - based on questions like "Taking things all together, how would you say things are these days: would you say you're very happy, pretty happy, or not too happy these days?" - are motivated in large part by widespread dissatisfaction with traditional economic...

Die dem ungebremsten Wachstum verschriebene Wirtschaftspolitik in den USA führt zu erheblichem emotionalen Stress. Den Wirtschaftsmotor auf Hochtouren laufen zu lassen, bedeutet, dass die Maximierung der Produktion im Vordergrund steht, ohne Berücksichtigung der negativen Externalitäten,...

What do social surveys of life cycle experience tell us about the determinants of subjective well-being? First, that the psychologists? setpoint model is wrong. Life events in the nonpecuniary domain, such as marriage, divorce, and physical disability, have a lasting effect on well-being, and do...

Sorting of people on the labor market not only assures the most productive use of valuable skills but also generates individual utility gains if people experience an optimal match between job characteristics and their preferences. Based on individual data on reported satisfaction with life it is...

This paper analyses whether individuals are influenced by the day of the week when reporting subjective well-being. By using a large panel data set and controlling for observed and unobserved individual characteristics, we find a large day-of the-week effect. Overall, we find a 'blue' Sunday...

This paper analyses subjective economic well-being in several Eastern European countries from 1991 to 1995. Economic well-being explains a significant part of the variation in overall life satisfaction of Eastern Europeans. In an ordered logit model, the determinants of subjective economic...