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Economics and Happiness


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Juni 2011

Beschreibung

Beschreibung

Seminar paper from the year 2009 in the subject Economics - Other, grade: 1,7, Johannes Gutenberg University Mainz, language: English, abstract: "Money does not buy happiness" - with that statement Richard Easterlin (1974)
somehow initiated a new field of research for economists. Within the last thirty years
plenty of surveys and dozens of papers were produced to identify the determinants of
happiness. Unfortunately little importance was attached to a definition or a consistent
concept of what "happiness" is. Only within the last decade happiness research has
gained the self-efficacy to educe policy recommendations from its own insights - with
ambiguous success.
In my paper I will give a brief summary of the central findings in happiness research
and introduce some approaches of explanations for surprising evidence. In the end I
will present a few policy recommendations to illustrate the above mentioned dubiousness
of success. As I have to present plenty of evidence I will set aside criticism
of methodology in every single survey and leave it with a cross-the-board one right
now: happiness research has to catch up to a considerable degree in methods of
conceptualization, measurement and statistics.
In the first section, I will present a general approach to the term "happiness", its use
and its measurement. Next I will describe the main identified and examined determinants1
of happiness - namely income, unemployment and inflation, democracy,
hardship and inequality. Section 4 deals with concepts that perhaps can give a microtheoretical
foundation for some of the results in happiness research. Not surprisingly
they stem from psychology because classic economic theory assuming rational decisions
("homo oeconomicus") is not capable of describing irrationalities like rivalry,
adaptation or aspiration level shifts. In the last section I will introduce some implications
for policy found in literature. Finally, the content
EAN: 9783640945061
ISBN: 3640945069
Untertitel: Auflage. Sprache: Englisch.
Verlag: GRIN Verlag
Erscheinungsdatum: Juni 2011
Seitenanzahl: 24 Seiten
Format: kartoniert
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