We present an alternative measurement method of investor overconfidence, using unique survey data on stock market predictions of investors. We apply the Parkinson estimate based on extreme bounds around the stock forecast to deduce investor confidence. The results support overconfidence.

This paper deals with the concept of happiness in economics. Of late there has come into life a branch of <italic>happiness economics</italic> and it is this field that will be our concern. Actually, not only economists are interested in quantifications of happiness but also researchers in other disciplines....