On the common claim that happiness equations demonstrate diminishing marginal utility of income

It is commonly claimed in the recent happiness literature in psychology and economics that we have proved diminishing marginal utility of income. This paper suggests that we have not. It draws a distinction between concavity of the utility function and concavity of the reporting function.

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Year of publication:	2005
Authors:	Oswald, Andrew J.
Publisher:	Bonn : Institute for the Study of Labor (IZA)
Subject:	happiness \| money \| marginal utility \| curvature \| concave

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Series:	IZA Discussion Papers ; 1781
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	50643642X [GVK] hdl:10419/33183 [Handle]
Classification:	I3 - Welfare and Poverty ; D1 - Household Behavior and Family Economics
Source:	EconStor

Persistent link: https://www.econbiz.de/10010267321