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Perspectives from the Happiness Literature and the Role of New Instruments for Policy Analysis
Praag, Bernard M.S. van - Institute for the Study of Labor (IZA) - 2007
utility concept, which seems to us the natural consequence of the happiness economics methodology. In Section 5 we sketch how …
Persistent link: https://www.econbiz.de/10005762324
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Relative Income, Happiness and Utility: An Explanation for the Easterlin Paradox and Other Puzzles
Clark, Andrew E.; Frijters, Paul; Shields, Michael - Institute for the Study of Labor (IZA) - 2007
presence of relative income terms in the utility function. Income may be evaluated relative to others (social comparison) or to … also discuss the relation (or not) between happiness and utility and discuss some non-happiness research (behavioural …, experimental, neurological) dealing with income comparisons. We last consider how relative income in the utility function affects …
Persistent link: https://www.econbiz.de/10005763569
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What happiness research can tell us about self-control problems and utility misprediction
Stutzer, Alois; Frey, Bruno S. - 2006
, individuals know what they choose. They are able to predict how much utility an activity or a good produces for them now and in … the future and they can maximize their utility. This implies that behavior reveals consistent preferences. This approach … misprediction of utility. We propose the economics of happiness as a methodological approach to study these phenomena. Based on …
Persistent link: https://www.econbiz.de/10010267422
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What Happiness Research Can Tell Us About Self-Control Problems and Utility
Stutzer, Alois; Frey, Bruno S. - Institute for the Study of Labor (IZA) - 2006
, individuals know what they choose. They are able to predict how much utility an activity or a good produces for them now and in … the future and they can maximize their utility. This implies that behavior reveals consistent preferences. This approach … misprediction of utility. We propose the economics of happiness as a methodological approach to study these phenomena. Based on …
Persistent link: https://www.econbiz.de/10005703642
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Suboptimal choices and the need for experienced individual well-being in economic analysis
Hsee, Christopher K.; Rottenstreich, Yuval; Stutzer, Alois - 2012
Standard economic analysis assumes that people make choices that maximize their utility. Yet both popular discourse and … that arise for two reasons. First, people err in predicting the utility they may accrue from available choice options due … to the evaluation mode. Second, people choose on the basis of salient rules that are unlikely to maximize utility. Our …
Persistent link: https://www.econbiz.de/10010282196
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Suboptimal Choices and the Need for Experienced Individual Well-Being in Economic Analysis
Hsee, Christopher K.; Rottenstreich, Yuval; Stutzer, Alois - Institute for the Study of Labor (IZA) - 2012
Standard economic analysis assumes that people make choices that maximize their utility. Yet both popular discourse and … that arise for two reasons. First, people err in predicting the utility they may accrue from available choice options due … to the evaluation mode. Second, people choose on the basis of salient rules that are unlikely to maximize utility. Our …
Persistent link: https://www.econbiz.de/10009649826
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Happiness and Public Policy: A Procedural Perspective
Stutzer, Alois - 2019
truthfully report their well-being, and ii) procedural utility as a source of well-being. Instead, well-being research should be …
Persistent link: https://www.econbiz.de/10012141258
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Equity and Equality
Duclos, Jean-Yves - Institute for the Study of Labor (IZA) - 2006
Is horizontal equity (HE) the "most widely accepted principle of equity"? Or does it stand in "opposition to the advancement of human welfare"? This paper argues that the case for the HE principle is not as straightforward as is usually thought and that it requires advanced notions of justice...
Persistent link: https://www.econbiz.de/10005566806
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'Fair' Welfare Comparisons with Heterogeneous Tastes: Subjective versus Revealed Preferences
Akay, Alpaslan; Bargain, Olivier; Jara, Xavier - 2017
Multidimensional welfare analysis has recently been revived by money-metric measures based on explicit fairness principles and the respect of individual preferences. To operationalize this approach, preference heterogeneity can be inferred from the observation of individual choices (revealed...
Persistent link: https://www.econbiz.de/10011744620
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On a Tendency in Health Economics to Dwell on Income Inequality and Underestimate Social Stress
Stark, Oded - 2023
Social stress can cause physical and mental harm. It is therefore not surprising that public health policy makers have sought to identify and implement policies aimed at tackling this social ill. A frequently prescribed remedy is to reduce social stress by reducing income inequality, which is...
Persistent link: https://www.econbiz.de/10014296874