Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/174012
Authors: 
Odermatt, Reto
Stutzer, Alois
Year of Publication: 
2017
Series/Report no.: 
IZA Discussion Papers 11102
Abstract: 
Measures of subjective well-being have gained substantial attention in economics as quantitative approximations of individual welfare. They allow researchers to study relevant determinants of welfare on an individual as well as on a societal level. These determinants might not to be easily detectable in observable behavior. By referring to the recent well-being literature, we provide a selection of determinants of well-being that are important for public policy and show how the analysis of subjective well-being is applied as a complementary analytical tool for policy evaluation. We highlight the use of these measures for guiding public policy in areas that might involve suboptimal behavior. We also discuss some challenges for future research that are associated with the choice of evaluation metrics, the role of aspiration and adaption in evaluations, and utility misprediction.
Subjects: 
subjective well-being
determinants of welfare
policy evaluation
bounded rationality
JEL: 
D61
D91
H4
I31
Document Type: 
Working Paper

Files in This Item:
File
Size
373.08 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.