Consumer Capital as the Source of Happiness: The Missing Economic Theory Underlying the Income-Happiness Paradox
Abstract
:Self-reported happiness does not generally increase with rising income, as established by Richard Easterlin. We argue that the current debate in economics about the income-happiness paradox has paid too little attention to the theoretical foundation of the expected positive relation between income and happiness, seeking an empirical resolution through better data and more elaborate estimating equations instead. We return to the history of...
Paper Details
Title
Consumer Capital as the Source of Happiness: The Missing Economic Theory Underlying the Income-Happiness Paradox
Published Date
Oct 1, 2016
Journal
Volume
50
Issue
4
Pages
984 - 1002
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Notes
History