Are We Getting It Right? Values and Life Satisfaction

Marina Della Giusta () and Uma Kambhampati

No em-dp2008-73, Economics Discussion Papers from Department of Economics, University of Reading

Abstract: The research agendas of psychologists and economists now have several overlaps, with behavioural economics providing theoretical and experimental study of the relationship between behaviour and choice, and hedonic psychology discussing appropriate measures of outcomes of choice in terms of overall utility or life satisfaction. Here we model the relationship between values (understood as principles guiding behaviour), choices and their final outcomes in terms of life satisfaction, and use data from the BHPS to assess whether our ideas on what is important in life (individual values) are broadly connected to what we experience as important in our lives (life satisfaction).

Keywords: life satisfaction; utility; values (search for similar items in EconPapers)
JEL-codes: D01 D31 H00 I31 J28 (search for similar items in EconPapers)
Pages: 9 pages
Date: 2008-12-15
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