We conducted a field experiment to increase our understanding of lottery participation. Using representative data for the Netherlands, we find that lottery participation increased the happiness of participants before the draw. Winning a small prize had no effect on happiness. Our results...

Business success arises out of the total investments in the venture. This is not limited to tangible inputs such as financial capital, but on intangible resources as well. Entrepreneurship is a highly stressing occupation involving undertaking risks and often demanding workloads; hence requiring...

Research appears to demonstrate that economic variables are only marginally predictive of levels of social satisfaction. It was hypothesised that a greater association might be found between satisfaction and equality of income distribution rather than between satisfaction and size of income. The...

25 Jahre nach dem Fall der Mauer haben sich die Lebensverhältnisse in Ost- und Westdeutschland noch nicht vollständig angeglichen. Das war freilich in realistischer Betrachtung auch nicht zu erwarten. Trotz steigender Lebenszufriedenheit in den neuen Bundesländern konnte der...

It is now a quarter of a century since the fall of the Berlin Wall and the gap in living standards between eastern and western Germany is still not fully closed. Admittedly, this could not realistically have been expected. Despite the increase in life satisfaction in eastern Germany, the...

Using self reported measures of life satisfaction and risk attitudes, we empirically test whether there is a relationship between individuals inequality and risk aversion. The empirical analysis uses the German SOEP household panel for the years 1997 to 2007 to conclude that the negative effect...

Despite the relatively extensive research on pay levels and the consequences of income disparities, little is known about which reference groups people choose for comparative evaluation of personal income and why different selection patterns emerge. The aim of this paper is to dig deeper for...

"Die meisten Menschen sind die meiste Zeit über glücklich" stellt in einer Zusammenfassung vieler empirischer Studien Biswas-Diener (2009) fest. Sogar nach einschneidenden Negativerlebnissen wie Arbeitslosigkeit oder dem Verlust des Partners passen sich die meisten Menschen recht schnell an...

In the modern welfare state, people who cannot make a living usually receive financial assistance from public funds. Accordingly, the so-called social work norm against living off other people is violated, which may be the reason why the unemployed are so unhappy. If so, however, labour market...