WELFARE AND HAPPINESS: INFLUENCE OF INCOME AND SOCIAL CAPITAL IN EUROPEAN COUNTRIES

Rosario Díaz Vázquez, Marta Portela and Isabel Neira ()
Authors registered in the RePEc Author Service: M. Rosario Diaz-Vazquez ()

Revista Galega de Economía, 2011, vol. 20, issue ex

Abstract: The research on happiness has raised the need to take into account other factors than income if the objectives are to maximize social welfare and to improve the quality of life. Our work has two aims. First, we study the link between happiness and other related concepts as utility and quality of life. This allows us to compare three criteria that have been proposed as a guide for public policy –maximizing utility, maximizing happiness and improving quality of life– and determine the role of income and other factors in each of them. Secondly, we carry out an empirical analysis of the relationship between subjective well-being, income per capita and social capital. To this end, we make a descriptive analysis of data and estimate an econometric model for a sample of European countries, using aggregate data.

Keywords: Well-being; Welfare; Happiness; Social capital. (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:sdo:regaec:v:20:y:2011:i:ex_9

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