Consumption, Technology and Wellbeing

Consommation, technologie et bien-être

Denis Bailly (), Mathieu Perona, Laura Recuero Virto (), Maxime Sèbe and Fabien Yao ()
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Denis Bailly: AMURE - Aménagement des Usages des Ressources et des Espaces marins et littoraux - Centre de droit et d'économie de la mer - IFREMER - Institut Français de Recherche pour l'Exploitation de la Mer - UBO - Université de Brest - IUEM - Institut Universitaire Européen de la Mer - IRD - Institut de Recherche pour le Développement - INSU - CNRS - Institut national des sciences de l'Univers - UBO - Université de Brest - CNRS - Centre National de la Recherche Scientifique - CNRS - Centre National de la Recherche Scientifique, IUEM - Institut Universitaire Européen de la Mer - IRD - Institut de Recherche pour le Développement - INSU - CNRS - Institut national des sciences de l'Univers - UBO - Université de Brest - CNRS - Centre National de la Recherche Scientifique, UBO - Université de Brest
Laura Recuero Virto: CRG I3 - Centre de recherche en gestion I3 - X - École polytechnique - IP Paris - Institut Polytechnique de Paris - I3 - Institut interdisciplinaire de l’innovation - CNRS - Centre National de la Recherche Scientifique, EMLV - École de management Léonard de Vinci
Maxime Sèbe: CRG I3 - Centre de recherche en gestion I3 - X - École polytechnique - IP Paris - Institut Polytechnique de Paris - I3 - Institut interdisciplinaire de l’innovation - CNRS - Centre National de la Recherche Scientifique
Fabien Yao: CRG I3 - Centre de recherche en gestion I3 - X - École polytechnique - IP Paris - Institut Polytechnique de Paris - I3 - Institut interdisciplinaire de l’innovation - CNRS - Centre National de la Recherche Scientifique

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Abstract: This policy brief highlights the insights subjective well-being metrics bring to the understanding of the relationship between consumption and happiness. We explore this topic in the advent of expected significant price increases under the double impact of higher climate volatility and the costly transition to cleaner production and transportation technologies, as is the case with maritime transport. People appear to be sensitive to price increases, on top of the real purchasing power of price and income changes regarding their happiness. Moreover, the type of consumption matters, with a lower marginal effect of material consumption on wellbeing compared to experiential consumption. Health, social relationships, and local environment are considered as main drivers of their wellbeing and de-emphasise consumption. A key outcome is that the gains of additional consumption decrease with the level of consumption, making consumption reductions less painful at the upper end of the revenue scale. Rich societies should be actively working on further decoupling material consumption and well-being by consciously exposing the elusive nature of the well-being boost we get from conspicuous consumption (goods others can readily observe: car, clothing, house, watches) and provide incentives for more socially and environmentally responsible modes of consumption.

Keywords: Policy Brief; Consumption; Technology; Wellbeing; Maritime Transport; Happiness; Climate impact; Environmental impact; Capitalism; Human Health; Marine biodiversity (search for similar items in EconPapers)
Date: 2023-12-18
New Economics Papers: this item is included in nep-env and nep-hap
Note: View the original document on HAL open archive server: https://hal.science/hal-04851069v1
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Published in 2023

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Working Paper: Consumption, Technology and Wellbeing (2023)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04851069

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