Perspectives from the Happiness Literature and the Role of New Instruments for Policy Analysis

Bernard van Praag

No 1912, CESifo Working Paper Series from CESifo

Abstract: After having been ignored for a long time by economists, happiness is becoming an object of serious research in 21st century economics. In Section 2 we sketch the present status of happiness economics. In Section 3 we consider the practical applicability of happiness economics, retaining the assumption of ordinal individual utilities. In Section 4 we introduce a cardinal utility concept, which seems to us the natural consequence of the happiness economics methodology. In Section 5 we sketch how this approach can lead to a normative approach to policy problems that is admissible from a positivist point of view. Section 6 concludes.

Keywords: happiness economics; subjective well-being; equivalence scales; economic policy (search for similar items in EconPapers)
Date: 2007
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Citations: View citations in EconPapers (37)

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Journal Article: Perspectives from the Happiness Literature and the Role of New Instruments for Policy Analysis (2007)
Working Paper: Perspectives from the Happiness Literature and the Role of New Instruments for Policy Analysis (2007)
Working Paper: Perspectives from the Happiness Literature and the Role of New Instruments for Policy Analysis (2007)
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