viewing and commuting choice. -- adaptation ; individual decision-making ; revealed preference ; self-control ; subjective …Neoclassical economic theory rules out systematic errors in consumption choice. According to the basic view … misprediction of utility. We propose the economics of happiness as a methodological approach to study these phenomena. Based on …

Neoclassical economic theory rules out systematic errors in consumption choice. According to the basic view … misprediction of utility. We propose the economics of happiness as a methodological approach to study these phenomena. Based on … viewing and commuting choice …

substitution functions for utility and happiness. Employing a choice framework, individuals are confronted with two options. When …We develop a theoretical model that jointly explains optimal choices and happiness. We work with constant elasticity of … there exists a trade-off, we determine parametric conditions for which individual happiness and utility coincide as well as …

(Finding 2). Finding 1 is at odds with rational choice theory's demand that marginal utility be equalized with marginal costs … forecasting the well-being consequences of an act of choice. This paper uses the rational-choice decision-error framework to show … that if (i) observed levels of PEB are the result of rational choice and (ii) there is positive net marginal SWB at …

-defined (without turning to choice under risk or the like), one should adopt as a new kind of primitive quaternary relations, instead …

We investigate adaptation of subjective well-being using a randomised controlled trial. We find that providing medical … of adaptation is supported by observations of changes in reference levels and is robust to alternative estimation methods …

Economics ignores the possibility of hedonic adaptation (the idea that people bounce back from utility shocks). This … on to exhibit recovery in mental wellbeing. Adaptation to severe disability, however, is shown to be incomplete. The …