Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/34811
Authors: 
Easterlin, Richard A.
Year of Publication: 
2008
Series/Report no.: 
IZA discussion papers 3409
Abstract: 
In the transition from socialism to capitalism in Eastern Europe life satisfaction has followed the V-shaped pattern of GDP but failed to recover commensurately. In general, increased satisfaction with material living levels has occurred at the expense of decreased satisfaction with work, health, and family life. Disparities in life satisfaction have increased markedly with those hardest hit being the less educated and persons over age 30; women and men have suffered about equally. The asymmetric response of life satisfaction to decreases in GDP in transition countries and increases in GDP in non-transition countries is arguably due to loss aversion.
Subjects: 
Happiness
transition
capitalism
socialism
loss aversion
JEL: 
I31
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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