Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/214296
Authors: 
Frey, Bruno S.
Stutzer, Alois
Year of Publication: 
2004
Series/Report no.: 
CREMA Working Paper No. 2004-10
Abstract: 
This paper intends to provide an evaluation of where the economic research on happiness stands and in which interesting directions it might develop. First, the current state of the research on happiness in economics is briefly discussed. We emphasize the potential of happiness research in testing competing theories of individual behavior. Second, the crucial issue of causality is taken up illustrating it for a particular case, namely whether marriage makes people happy or whether happy people get married. Third, happiness research is taken up as a new approach to measuring utility in the context of cost-benefit analysis.
Subjects: 
causality
cost-benefit analysis
happiness research
life satisfaction approach
marriage
selection
subjective well-being
terrorism
JEL: 
D61
H41
I31
J12
Document Type: 
Working Paper

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