Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/214438 
Year of Publication: 
2009
Series/Report no.: 
CREMA Working Paper No. 2009-11
Publisher: 
Center for Research in Economics, Management and the Arts (CREMA), Basel
Abstract: 
In economics there is presently an almost revolutionary development. The direct measurement of subjective welfare challenges traditional economics, inspires it, and opens new avenues for scientific research. The approaches and possibilities of an economic analysis of happiness are shown and illustrated with two specific applications. The relationship between income and life satisfaction is strongly shaped by the aspiration level serving to evaluate life conditions. The aspiration levels are formed by social comparisons and adaptation processes. The Life Satisfaction Approach is a new method to capture the value of public goods. The short discussion of governmental ?happiness policy? from a constitutional viewpoint suggests a comparative institutional analysis of subjective well-being. The happiness revolution in economics is only at its beginning. More insights concerning institutions allowing people to pursue their own conception of a good life are to be expected.
Subjects: 
Happiness
Life Satisfaction
Economics
Income
Terrorism
JEL: 
A12
D31
H41
Document Type: 
Working Paper

Files in This Item:
File
Size
246.56 kB





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