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Working paper

What good is happiness?

Abstract:

In this paper we examine whether, and how, welfare economics should incorporate some insights from happiness and satisfaction studies. Our main point, based on the principle of respecting the individuals’ judgments about their own lives, is that one should not focus on reported satisfaction levels but on the ordinal preferences reported by individuals over the various dimensions of life. We illustrate with data from the Russian Longitudinal Monitoring Survey (RLMS) how to retrieve this information from happiness surveys.

Publication status:
Published
Peer review status:
Reviewed (other)

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Publisher:
Oxford Poverty & Human Development Initiative (OPHI) Publisher's website
Series:
OPHI working paper
Publication date:
2008-01-01
Paper number:
20
Language:
English
Keywords:
UUID:
uuid:605eb191-81b8-4871-b2be-1fe819ea5ec7
Local pid:
ora:9408
Deposit date:
2014-11-27

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