Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/86502 
Year of Publication: 
2007
Series/Report no.: 
Tinbergen Institute Discussion Paper No. 07-049/3
Publisher: 
Tinbergen Institute, Amsterdam and Rotterdam
Abstract: 
After having been ignored for a long time by economists, happiness is becoming an object of serious research in 21st century economics. In Section 2 we sketch the present status of happiness economics. In Section 3 we consider the practical applicability of happiness economics, retaining the assumption of ordinal individual utilities. In Section 4 we introduce a cardinal utility concept, which seems to us the natural consequence of the happiness economics methodology. In Section 5 we sketch how this approach can lead to a normative approach to policy problems that is admissible from a positivist point of view. Section 6 concludes.
Subjects: 
Happiness economics
subjective well-being
equivalence scales
economic policy
JEL: 
B21
B41
D63
I31
I38
Document Type: 
Working Paper

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