Layard, Peter R. G.; Mayraz, Guy; Nickell, Stephen J. - 2008 - Revised version
In normative public economics it is crucial to know how fast the marginal utility of income declines as income … increases. One needs this parameter for cost-benefit analysis, for optimal taxation and for the (Atkinson) measurement of … inequality. We estimate this parameter using four large cross-sectional surveys of subjective happiness and two panel surveys …