HAPPINESS ECONOMICS: THE SOCIAL NATURE OF HUMAN HAPPINESS

Teodor Sedlarski

Yearbook of the Faculty of Economics and Business Administration, Sofia University, 2018, vol. 15, issue 1, 173-205

Abstract: This article analyses the social factors for the perceived human happiness in the framework of the modern research field of happiness economics. The impact of rising expectations on subjective well-being, the role of the social status competition and relative income, as well as of socially accepted consumption levels and hedonic adaptation on declared life satisfaction are being explored from the perspective of economic theory. Implications for key economic policy goals are drawn with respect to growth, inequality, procedural fairness and possibilities for upward social mobility.

Keywords: reported happiness relative income; conspicuous consumption; social status; positional goods; status competition; subjective well-being. (search for similar items in EconPapers)
JEL-codes: B40 B52 D01 D02 D04 D63 D91 H23 H30 Z13 (search for similar items in EconPapers)
Date: 2018
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