Does happiness adapt? A longitudinal study of disability with implications for economists and judges

Andrew Oswald and Nattavudh Powdthavee

Journal of Public Economics, 2008, vol. 92, issue 5-6, 1061-1077

Abstract: This paper is an empirical study of partial hedonic adaptation. It provides longitudinal evidence that people who become disabled go on to exhibit considerable recovery in mental well-being. In fixed-effects equations we estimate the degree of hedonic adaptation at -- depending on the severity of the disability -- approximately 30% to 50%. Our calculations should be viewed as illustrative; more research, on other data sets, is needed. Nevertheless, we discuss potential implications of our results for economists and the courts.

Date: 2008
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Working Paper: Does Happiness Adapt? A Longitudinal Study of Disability with Implications for Economists and Judges (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:pubeco:v:92:y:2008:i:5-6:p:1061-1077

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