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

Bernard van Praag

No 07-049/3, Tinbergen Institute Discussion Papers from Tinbergen Institute

Abstract: This discussion paper led to a publication in 'CESIFO ECONOMIC STUDIES' , 2007, 53(1), 42-68.

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)
JEL-codes: B21 B41 D63 I31 I38 (search for similar items in EconPapers)
Date: 2007-06-25
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (13)

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Related works:
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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