The Sources of Happiness: Evidence from the Investment Game

Leonardo Becchetti and Giacomo Degli Antoni ()

No wp13, Econometica Working Papers from Econometica

Abstract: The present paper draws on data collected in an investment game plus a questionnaire to investigate whether happiness is affected by circumstances and/or outcomes of the game and to evaluate which motivations or preference structures (self-interested preferences, inequity aversion, altruism, warm glow, social-welfare preferences, trust or reciprocity) may explain such effect. Our result shows that the amount sent has significant and positive effect on trustors’ self-declared happiness. We interpret this finding by arguing that the happiness effect can be explained by the enactment of the “generating” (social welfare enhancing) power of the trustor’s decision. Characteristics of the investment game are such that the trustor has a value creating while the trustee only a redistributive power. This difference may explain why only trustors and not trustees are significantly and positively affected by their giving decision.

Keywords: Happiness; Investment Game; Social-welfare Preferences (search for similar items in EconPapers)
JEL-codes: A13 C91 D63 (search for similar items in EconPapers)
Pages: 23
Date: 2009-09
New Economics Papers: this item is included in nep-hap, nep-hpe, nep-neu and nep-soc
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Related works:
Journal Article: The sources of happiness: Evidence from the investment game (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:ent:wpaper:wp13

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