CULTURE, HAPPINESS AND THE PARADOX OF CHOICE IN MODERN MARKET SOCIETIES

Teodor Sedlarski ()
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Teodor Sedlarski: Faculty of Economics and Business Administration, Sofia University St Kliment Ohridski

Yearbook of the Faculty of Economics and Business Administration, Sofia University, 2024, vol. 23, issue 1, 219-285

Abstract: This article summarizes the main concepts in Barry Schwartz's book 'The Paradox of Choice: Why More is Less' in the context of the latest insights in happiness economics, the discussion of social status and the cultural dimension of individualism-collectivism in economic literature. It highlights the author's ideas related to current analytical results in behavioral and institutional research.

Keywords: subjective well-being; social status; hedonic adaptation; positional goods; cognitive load; cognitive biases; heuristics; prospect theory; loss aversion; buyer’s remorse; depression; individualism; collectivism; framing; mental accounting; satisficing. (search for similar items in EconPapers)
JEL-codes: D71 O43 P17 Z1 (search for similar items in EconPapers)
Date: 2024
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