It is widely accepted that economics has changed significantly since the 1970s with the development of new data sources, new methods of analysis and the computer. This paper argues that this transformation of the discipline involves more than just a rise of empirical work: it involves a new...

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...