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http://hdl.handle.net/10419/33766
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| Title: | | Does happiness adapt? A longitudinal study of disability with implications for economists and judges  |
| Authors: | | Oswald, Andrew J. Powdthavee, Nattavudh |
| Issue Date: | | 2006 |
| Series/Report no.: | | IZA Discussion Papers 2208 |
| Abstract: | | Economics ignores the possibility of hedonic adaptation (the idea that people bounce back from utility shocks). This paper argues that economists are wrong to do so. It provides longitudinal evidence that individuals who become disabled go on to exhibit recovery in mental wellbeing. Adaptation to severe disability, however, is shown to be incomplete. The paper suggests ways to calculate the level of compensatory damages for the pain and suffering from disablement. Courts all over the world currently use ad hoc methods. |
| Subjects: | | disability adaptation happiness legal compensation wellbeing GHQ scores |
| JEL: | | D1 I3 I31 K0 |
| Document Type: | | Working Paper |
| Appears in Collections: | | IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)
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