Wellbeing and Happiness

  • Elias L. KhalilEmail author
What measurement criterion should we use to gauge the level of wellbeing or what the economists call “utility” or “welfare”? The Sarkozy 2009 report, supervised by Joseph Stiglitz, Amartya Sen, and Jean-Paul Fitoussi, conclude:

the time is ripe for our measurement system to shift emphasis from measuring economic production to measuring people’s well-being (Stiglitz et al. 2009, 12) (emphasis in original).

Indeed, one author of the report, Amartya Sen ( 1999), insists on using the term “wellbeing,” rather than the old term “utility” or “welfare,” on one hand, and the fashionable new term “happiness,” on the other. For Sen, and many others as shown below, the term “utility/welfare” connotes an objective function whose main, if not sole, argument is pecuniary personal income or, equivalently, the material goods that such income can buy. For them, the term “wellbeing” can be geared to denote an objective function that can be extended to include as well non-tangible arguments. Such arguments...



Earlier versions benefited from the comments of Steven Gardner, Lucy Mayne, Fiona Newton, Michael Ewing, Yew-Kwang Ng, Birendra Rai, Michael Dunstan, James Ang, Ranjan Ray, Dietrich Fausten, Ratbek Dzhumashev, Haiou Zhou, Jonathan Wight, Carol Graham, Volker P.N. Grzimek, anonymous referees, participants of sessions at the Southern Economic Association conference, the Australia New Zealand Workshop on Experimental Economics, and participants of seminars at George Mason University, James Madison University, University of Richmond, Deakin University, Queensland University of Technology, and Monash University. The usual caveat applies.


  1. Aaker, J., M. Rudd, and C. Mogilner. 2011. If money doesn’t make you happy, consider time. Journal of Consumer Psychology 21: 126–133.CrossRefGoogle Scholar
  2. Anand, P. 2016. Happiness explained. Oxford: Oxford University Press.Google Scholar
  3. Argyle, M. 2001. The psychology of happiness, 2nd ed. New York: Routledge.Google Scholar
  4. Alexandrova, A. 2005. Subjective well-being and Kahneman’s ‘objective happiness’. Journal of Happiness Studies 6: 301–324.CrossRefGoogle Scholar
  5. Alexandrova, A. 2008. First-person reports and the measurement of happiness. Philosophical Psychology 21: 571–583.CrossRefGoogle Scholar
  6. Alexandrova, A. 2017. A philosophy for the science of well-being. Oxford: Oxford University Press.CrossRefGoogle Scholar
  7. Andrews, F.M., and S.B. Withey. 1976. Social indicators of well-being: America’s perception of life quality. New York: Plenum Press.CrossRefGoogle Scholar
  8. Arthaud-Day, M.L., J.C. Rode, C.H. Mooney, and J.P. Near. 2005. The subjective well-being construct: A test of its convergent, discriminant, and factorial validity. Social Indicators Research 74: 445–476.CrossRefGoogle Scholar
  9. Baumeister, R.F., and M.R. Leary. 1995. The need to belong: Desire for interpersonal attachments as a fundamental human motivation. Psychological Bulletin 117: 497–529.CrossRefGoogle Scholar
  10. Becker, G.S. 1993. Nobel lecture: The economic way of looking at behavior. Journal of Political Economy 101: 385–409.CrossRefGoogle Scholar
  11. Belk, R.W. 1988. Possessions and the Extended Self. Journal of Consumer Research 15: 139–168.CrossRefGoogle Scholar
  12. Berscheid, E., and H.T. Reis. 1998. Attraction and close relationships. In The handbook of social psychology, 4th, ed. D.T. Gilbert, S.T. Fiske, and G. Lindzey, 13–281. New York: McGraw-Hill.Google Scholar
  13. Blanchflower, D.G., and A.J. Oswald. 2004. Well-being over time in Britain and the USA. Journal of Public Economics 88: 1359–1386.CrossRefGoogle Scholar
  14. Booth, M. 2014. The almost nearly perfect people: Behind the myth of the Scandinavian utopia. London: Vintage Books.Google Scholar
  15. Bradburn, N.M. 1969. The structure of psychological well-being. Chicago: Aldine.Google Scholar
  16. Brickman, P., D. Coates, and R. Janoff-Bulman. 1978. Lottery winners and accident victims: Is happiness relative? Journal of Personality and Social Psychology 36: 917–927.CrossRefGoogle Scholar
  17. Brickman, P., and D.T. Campbell. 1971. Hedonic relativism and planning the good society. In Adaptation-level theory: A symposium, ed. M.H. Appley, 287–302. Academic Press.Google Scholar
  18. Bruni, L., and P.L. Porta (eds.). 2005. Economics and happiness: Framing the analysis. Oxford: Oxford University Press.Google Scholar
  19. Bruni, L., and P.L. Porta (eds.). 2007. Handbook on the economics of happiness. Cheltenhamc: Edward Elgar.Google Scholar
  20. Bruni, L., and P.L. Porta (eds.). 2016. Handbook of research methods and applications in happiness and quality of life. Cheltenham: Edward Elgar.Google Scholar
  21. Campbell, A., P.E. Converse, and W.L. Rodgers. 1976. The quality of American life. New York: Russell Sage Foundation.Google Scholar
  22. Cantril, H. 1965. The pattern of human concerns. New Brunswick: Rutgers University Press.Google Scholar
  23. Carter, T.J., and T. Gilovich. 2014. Getting the Most for the Money: The Hedonic Return on Experiential and Material Purchases. In Consumption and Well-Being in the Material World, ed. M. Tatzel, 49–62. Netherlands: Springer.CrossRefGoogle Scholar
  24. Chekola, M. 2007. Happiness, rationality, autonomy and the good life. Journal of Happiness Studies 8: 51–78.CrossRefGoogle Scholar
  25. Chodoff, P. 2002. The medicalization of the human condition. Psychiatric Services 53: 627–628.CrossRefGoogle Scholar
  26. Clark, A.E., P. Frijters, and M.A. Shields. 2008. Relative income, happiness, and utility: An explanation for the Easterlin paradox and other puzzles. Journal of Economic Literature 49: 95–144.CrossRefGoogle Scholar
  27. Clark, A.E., Y. Georgellis, and P. Sanfey. 2001. Scarring: The psychological impact of past unemployment. Economica 68: 221–421.CrossRefGoogle Scholar
  28. Christensen, K., A.M. Herskind, and J.W. Vaupel. 2006. Why Danes are smug: Comparative study of life satisfaction in the European Union. British Medical Journal 333 (7582): 1289–1291.CrossRefGoogle Scholar
  29. Costa Jr., P.T., and R.R. McCrae. 1980. Influence of extraversion and neuroticism on subjective well-being: Happy and unhappy people. Journal of Personality and Social Psychology 38: 668–678.CrossRefGoogle Scholar
  30. Cummins, R.A., D. Mellor, M.A. Stokes, and A.A.L.D. Lau. 2008. Quality of life down-under: The Australian unity wellbeing index. New York: Springer.Google Scholar
  31. Damiano, E., H. Li, and W. Suen. 2010. First in village or second in Rome?”. International Economic Review 51: 263–288.CrossRefGoogle Scholar
  32. David, S.A., I. Boniwell, and A. Conley Ayers (eds.). 2014. The Oxford handbook of happiness. Oxford: Oxford University Press.Google Scholar
  33. Deaton, A. 2008. Income, health, and well-being around the world: Evidence from the Gallup world poll. Journal of Economic Perspectives 22: 53–72.CrossRefGoogle Scholar
  34. Deaton, A. 2016. Measuring and understanding behavior, welfare, and poverty. (Nobel Lecture). American Economic Review 106: 1221–1243.CrossRefGoogle Scholar
  35. Demir, M. 2010. Close relationships and happiness among emerging adults. Journal of Happiness Studies 11: 293–313.CrossRefGoogle Scholar
  36. Diener, E. 1984. Subjective well-being. Psychological Bulletin 95: 542–575.CrossRefGoogle Scholar
  37. Diener, E., and F. Fujita. 1997. Social comparison and subjective well-being. In Health, Coping and Well-being: Perspectives from Social Comparison Theory, ed. B.P. Buunk and R. Gibbons, 329–357. Mahwah: Lawrence Erlbaum Associates.Google Scholar
  38. Diener, E. (2009) Assessing well-being: The collected works of Ed Diener. New York: Springer.Google Scholar
  39. Diener, E., and R. Biswas-Diener. 2002. Will money increase subjective well-being? A literature review and guide to needed research. Social Indicators Research 57: 119–169.CrossRefGoogle Scholar
  40. Diener, E., and R.A. Emmons. 1984. The independence of positive and negative affect. Journal of Personality and Social Psychology 47: 1105–1117.CrossRefGoogle Scholar
  41. Diener, E., J. Horwitz, and R.A. Emmons. 1985. Happiness of the very wealthy. Social Indicators Research 16: 263–274.CrossRefGoogle Scholar
  42. Diener, E., W. Ng, J. Harter, and R. Arora. 2010. Wealth and happiness across the world: Material prosperity predicts life evaluation, while psychosocial prosperity predicts positive feeling. Journal of Personality and Social Psychology 97: 143–156.Google Scholar
  43. Diener, E., and S. Oishi. 2000. Money and happiness: Income and subjective well-being across nations. In Culture and subjective well-being, ed. E. Diener and E.M. Suh, 185–218. Cambridge: MIT Press.Google Scholar
  44. Diener, E., E. Sandvik, L. Seidlitz, and M. Diener. 1993. The relationship between income and subjective well-being: Relative or absolute? Social Indicators Research 28: 195–223.CrossRefGoogle Scholar
  45. Diener, E., E. Suh, R. Lucas, and H. Smith. 1999. Subjective well-being: Three decades of progress. Psychological Bulletin 125: 276–302.CrossRefGoogle Scholar
  46. Di Tella, R., and R. MacCulloch. 2008. Gross national happiness as an answer to the Easterlin Paradox? Journal of Development Economics 86: 22–42.CrossRefGoogle Scholar
  47. Di Tella, R., J. Haisken-De New, and R. MacCulloch. 2010. Happiness adaptation to income and to status in an individual panel. Journal of Economic Behavior and Organization 76: 834–852.CrossRefGoogle Scholar
  48. Dolan, P., T. Peasgood, and M. White. 2008. Do we really know what makes us happy? A review of the economic literature on the factors associated with subjective well-being. Journal of Economic Psychology 29: 94–122.CrossRefGoogle Scholar
  49. Dworkin, R.W. 2007. Artificial Happiness: The dark side of the new happy class. New York: Basic Books.Google Scholar
  50. Easterlin, R.A. 1974. Does economic growth improve the human lot? In Nations and households in economic growth: Essays in honour of Moses Abramovitz, ed. P.A. David and M.W. Reder. New York: Academic Press.Google Scholar
  51. Easterlin, R.A. 1995. Will raising the incomes of all increase the happiness of all? Journal of Economic Behavior and Organization 27: 35–47.CrossRefGoogle Scholar
  52. Easterlin, R.A. 2001. Income and happiness: Towards a unified theory. Economic Journal 111: 465–484.CrossRefGoogle Scholar
  53. Easterlin, R.A. 2003. Explaining happiness. Proceedings of the National Academy of Sciences (USA) 100: 11176–11183.CrossRefGoogle Scholar
  54. Easterlin, R.A. 2010. In Happiness, growth, and the life cycle, ed. H. Hinte and K.F. Zimmermann. Oxford: Oxford University Press.Google Scholar
  55. Easterlin, R.A. 2013. Happiness, growth, and public policy. Economic Inquiry 51: 1–15.CrossRefGoogle Scholar
  56. Easterlin, R.A., L.A. McVey, M. Switek, O. Sawangfa, and J.S. Zweig. 2010. The happiness–income paradox revisited. Proceedings of the National Academy of Sciences (USA) 107: 22463–22468.CrossRefGoogle Scholar
  57. Elster, J. 1998. Alchemies of the mind: Rationality and the emotions. Cambridge: Cambridge University Press.CrossRefGoogle Scholar
  58. Elster, J. 2009. Emotional choice and rational choice. In The Oxford handbook of philosophy of emotion, ed. Peter Goldie, 263–281. Oxford: Oxford University Press.Google Scholar
  59. Falk, A., and M. Knell. 2004. Choosing the Joneses: Endogenous goals and reference standards. Scandinavian Journal of Economics 106: 417–435.CrossRefGoogle Scholar
  60. Flower, R. 2004. Lifestyle drugs: Pharmacology and the social agenda. Trends in Pharmacological Sciences 25: 182–185.CrossRefGoogle Scholar
  61. Frank, R.H. 1985. Choosing the right pond: Human behavior and the quest for status. Oxford: Oxford University Press.Google Scholar
  62. Frank, R.H. 2004. How not to buy happiness. Daedalus 133: 69–79.CrossRefGoogle Scholar
  63. Frederick, S., and G. Loewenstein. 1999. Hedonic adaptation. In Well-being: The foundations of hedonic psychology, ed. D. Kahneman, E. Diener, and N. Schwarz. New York: Russell Sage Foundation.Google Scholar
  64. Frey, B.S. 2008. Happiness: A revolution in economics. Cambridge: MIT Press.CrossRefGoogle Scholar
  65. Frey, B.S., and A. Stutzer. 2002a. What can economists learn from happiness research? Journal of Economic Literature 40: 402–435.CrossRefGoogle Scholar
  66. Frey, B.S., and A. Stutzer. 2002b. Happiness and economics: How the economy and institutions affect human well-being. Princeton: Princeton University Press.Google Scholar
  67. Frey, B.S., and A. Stutzer. 2013. Introduction. In Recent developments in the economics of happiness, ed. B.S. Frey and A. Stutzer. Cheltenham: Edward Elgar.CrossRefGoogle Scholar
  68. Gilbert, D.T. 2006. Stumbling on happiness. Alfred A Knopf.Google Scholar
  69. Gilovich, T. & Kumar, A. (2015) We’ll always have Paris: The hedonic payoff from experiential and material investments. In: Advances in experimental social psychology, vol. 51, ed. M. Zanna & J. Olson, ch. 4, pp. 147–187. New York: Academic Press (Elsevier).Google Scholar
  70. Gabaix, X., and A. Landier. 2008. Why has CEO pay increased so much? Quarterly Journal of Economics 123: 49–100.CrossRefGoogle Scholar
  71. Graham, C. 2009. Happiness around the world: The paradox of happy peasants and miserable millionaires. Oxford: Oxford University Press.CrossRefGoogle Scholar
  72. Graham, C., and S. Pettinato. 2002. Happiness and hardship: Opportunity and insecurity in new market economies. Washington, DC: Brookings Institution.Google Scholar
  73. Griffin, J. 2007. What do happiness studies study? Journal of Happiness Studies 8: 139–148.CrossRefGoogle Scholar
  74. Gullone, E., and R.A. Cummins (eds.). 2002. The universality of subjective wellbeing indicators: A multi-disciplinary and multi-national perspective. London: Kluwer.Google Scholar
  75. Hagerty, M., and R. Veenhoven. 2003. Wealth and happiness revisited—growing national income does go with greater happiness. Social Indicators Research 64: 1–27.CrossRefGoogle Scholar
  76. Harsanyi, J.C. 1997. Utilities, preferences, and corporal goods. Social Choice and Welfare 14: 129–145.CrossRefGoogle Scholar
  77. Haybron, D. (2011) Happiness. The Stanford Encyclopedia of Philosophy, ed. E. N. Zalta (–checked on 8 May 2016).
  78. Headey, B. 2008. The Set-point theory of well-being: Negative results and consequent revisions. Social Indicators Research 86: 389–403.Google Scholar
  79. Headey, B., and A. Wearing. 1992. Understanding happiness: A theory of subjective well-being. Melbourne: Longman Cheshire.Google Scholar
  80. Heller, D., D. Watson, and R. Ilies. 2004. The role of person versus situation in life satisfaction: A critical examination. Psychological Bulletin 130: 574–600.CrossRefGoogle Scholar
  81. Helliwell, J., R. Layard, and J. Sachs (eds.). 2016. World Happiness Report 2016 Update,, vol. 1. New York: Sustainable Development Solutions Network.Google Scholar
  82. Helson, H. 1947. Adaptation-level as frame of reference for prediction of psychological data. American Journal of Psychology 60: 1–29.CrossRefGoogle Scholar
  83. Inglehart, R., and H. Klingemann. 2000. Genes, culture, democracy and happiness. In Culture and subjective well-being, ed. E. Diener and E.M. Suh, 165–183. Cambridge: MIT Press.Google Scholar
  84. Kahneman, D., and A. Tversky. 1979. Prospect theory: An analysis of decision under risk. Econometrica 47: 263–291.CrossRefGoogle Scholar
  85. Kahneman, D., P.P. Wakker, and R. Sarin. 1997. Back to Bentham? Explorations of experienced utility. Quarterly Journal of Economics 112: 375–406.CrossRefGoogle Scholar
  86. Kahneman, D., E. Diener, and N. Schwarz (eds.). 1999. Well-being: The foundations of hedonic psychology. New York: Russell Sage Foundation.Google Scholar
  87. Kahneman, D., and A.B. Krueger. 2006. Developments in the measurement of subjective well-being. Journal of Economic Perspectives 20: 3–24.CrossRefGoogle Scholar
  88. Kahneman, D., and A. Deaton. 2010. High income improves evaluation of life but not emotional well-being. Proceedings of the National Academy of Sciences (USA) 107: 16489–16493.CrossRefGoogle Scholar
  89. Kammann, R. 1983. Objective circumstances, life satisfactions and sense of well-being: Consistencies across time and place. New Zealand Psychologist 12: 14–22.Google Scholar
  90. Khalil, E.L. 1989. Adam Smith and Albert Einstein: The aesthetic principle of truth. History of Economics Society Bulletin 11: 222–237.CrossRefGoogle Scholar
  91. Khalil, E.L. 1995. On the scope of economics: What is the question? Finnish Economic Papers 8: 40–55.Google Scholar
  92. Khalil, E.L. 1996. What is economic action? From Marshall and Robbins to Polanyi and Becker. Journal of the History of Economic Thought 18: 13–36.CrossRefGoogle Scholar
  93. Khalil, E.L. 1997a. Buridan’s ass, uncertainty, risk, and self-competition: A theory of entrepreneurship. Kyklos 50: 147–163.CrossRefGoogle Scholar
  94. Khalil, E.L. 1997b. Chaos theory versus Heisenberg’s uncertainty: Risk, uncertainty and economic theory. American Economist 41: 27–40.CrossRefGoogle Scholar
  95. Khalil, E.L. 1997c. Economics, biology, and naturalism: Three problems concerning the question ofindividuality. Biology & Philosophy 12: 185–206.CrossRefGoogle Scholar
  96. Khalil, E.L. 1999. Sentimental fools: A critique of Amartya Sen’s notion of commitment. Journal of Economic Behavior and Organization 40 (4): 373–386.CrossRefGoogle Scholar
  97. Khalil, E.L. 2000. Symbolic products: Prestige, pride and identity goods. Theory and Decision 49: 53–77.CrossRefGoogle Scholar
  98. Khalil, E.L. 2004. The gift paradox: Complex selves and symbolic goods. Review of Social Economy 62: 379–392.CrossRefGoogle Scholar
  99. Khalil, E.L. 2005. An anatomy of authority: Adam Smith as political theorist. Cambridge Journal of Economics 29: 57–71.CrossRefGoogle Scholar
  100. Khalil, E.L. 2010. The Bayesian fallacy: Distinguishing internal motivations and religious beliefs from other beliefs. Journal of Economic Behavior and Organization 75: 268–280.CrossRefGoogle Scholar
  101. Khalil, E.L. 2013. Disentangling the order effect from the context effect: Analogies, homologies and quantum probability. Behavioral and Brain Sciences. 36: 293–294.CrossRefGoogle Scholar
  102. Khalil, E.L. 2015. Temptations as impulsivity: How far are regret and the Allais paradox from shoplifting? Economic. Modelling 51: 551–559.CrossRefGoogle Scholar
  103. Khalil, E. L. 2017a. Weakness of will and stiffness of will: How far are shirking, slackening, favoritism, spoiling of children, and pornography from obsessive-compulsive behavior? In Handbook of behavioral economics and smart decision-making: Rational decision-making within the bounds of reason, ed. M. Altman, 492–514. Edward Elgar.Google Scholar
  104. Khalil, E.L. 2017b. Socialized view of man vs. rational choice theory: What does 17b’s sympathy have to say? Journal of Economic Behavior and Organization 143: 223–240.CrossRefGoogle Scholar
  105. Khalil, E.L. 2018a. Faust and job: The dual-facet of happiness. A Mimeo.Google Scholar
  106. Khalil, E.L. 2018b. A rational theory of happiness: Solving the wellbeing-happiness paradox. A Mimeo.Google Scholar
  107. Khalil, E.L., J. Aimone, D. Houser, S. Wang, and D. Martinez. 2018. The aspirational income hypothesis: On the limits of the relative income hypothesis. A Mimeo.Google Scholar
  108. Kőszegi, B., and M. Rabin. 2006. A model of reference-dependent preferences. Quarterly Journal of Economics 121: 1133–1165.CrossRefGoogle Scholar
  109. Korsgaard, C.M. 2009. Self-Constitution: Agency, identity, and integrity. Oxford: Oxford University Press.CrossRefGoogle Scholar
  110. Krueger, A.B. (ed.). 2009. Measuring the subjective well-being of nations: National accounts of time use and well-being. Chicago: University of Chicago.Google Scholar
  111. Layard, R. 2006. Happiness: Lessons from a new science. London: Penguin Books.Google Scholar
  112. Layard, R., A. Clark, and C. Senik. 2012. First world happiness report launched at the United Nations. New York: Earth Institute, Columbia University New York.Google Scholar
  113. Layard, R., G. Mayraz, and S. Nickell. 2010. Does relative income matter? Are the critics right? In International Differences in Well-Being, ed. E. Diener, J.F. Helliwell, and D. Kahneman. Oxford: Oxford University Press.Google Scholar
  114. LeBoeuf, R.A., and E. Shafir. 2003. Deep thoughts and shallow frames: On the susceptibility to framing effects. Journal of Behavioral Decision Making 16: 77–92.CrossRefGoogle Scholar
  115. Lim, R. 1995. A Range-frequency explanation of shifting reference points in risky decision making. Organizational Behavior and Human Decision Processes 63: 6–20.CrossRefGoogle Scholar
  116. Loewenstein, George. 1999. Because it is there: The challenge of mountaineering… for utility theory”. Kyklos 52: 315–343.CrossRefGoogle Scholar
  117. Lucas, R.E., A.E. Clark, Y. Georgellis, and E. Diener. 2004. Unemployment alters the set-point for life satisfaction. Psychological Science 15: 8–13.CrossRefGoogle Scholar
  118. Lucas, R.E., P.S. Dyrenforth, and E. Diener. 2008. Four myths about subjective well-being. Social and Personality Psychology Compass 2: 2001–2015.CrossRefGoogle Scholar
  119. Margraf, J., Meyer, A. H. & Lavallee, K. L. (2013) Well-being from the knife? Psychological effects of aesthetic surgery. Clinical Psychological Science July 1:239-252Google Scholar
  120. Margraf, J., A.H. Meyer, and K.L. Lavallee. 2015. Psychological health and aims of aesthetic surgery seekers. Clinical Psychological Science 3: 877–891.CrossRefGoogle Scholar
  121. Mas-Colell, A., M.D. Whinton, and J.R. Green. 1995. Microeconomic theory. Oxford: Oxford University Press.Google Scholar
  122. Matuska, K., and C. Christiansen (eds.). 2009. Life balance: Multidisciplinary theories and research. Thorofare: Slack Incorporated.Google Scholar
  123. McDaid, D. & Cooper, C. L., eds. (2014) Wellbeing: A complete reference guide, Vol. V: The economics of wellbeing. New York: Wiley Blackwell.Google Scholar
  124. McMahon, D.M. 2004. From the happiness of virtue to the virtue of happiness: 400 B.C.-A.D. 1780. Daedalus 133: 5–17.CrossRefGoogle Scholar
  125. McMahon, D.M. 2006. Happiness: A history. New York: Grove Press.Google Scholar
  126. Mishra, V., I. Nielsen, and R. Smyth. 2016. Evidence of set points for subjective wellbeing in longitudinal data. A Mimeo: Monash University, Clayton.Google Scholar
  127. Moynihan, R., and A. Cassels. 2005. Selling Sickness: How Drug Companies Are Turning Us All Into Patients. London: Allen and Unwin.Google Scholar
  128. Nettle, D. 2005. Happiness: the science behind your smile. Oxford: Oxford University Press.Google Scholar
  129. Ng, Y.-K. (1978) Economic growth and social welfare: The need for a complete study of happiness. Kyklos 31:575-87. (Reprinted in: Happiness in economics, ed. R. A. Easterlin, 2002, pp. 66-77. Cheltenhamc: Edward Elgar)Google Scholar
  130. Ng, Y.-K. 1987. Relative-income effects and the appropriate level of public expenditure. Oxford Economic Papers 39: 293–300.CrossRefGoogle Scholar
  131. Ng, Y.-K. 2002. The East-Asian happiness gap. Pacific Economic Review 7: 51–63.CrossRefGoogle Scholar
  132. Oishi, S., and U. Schimmack. 2010. Culture and well-being: A new inquiry into the psychological wealth of nations. Perspectives on Psychological Science 5: 463–471.CrossRefGoogle Scholar
  133. Oswald, A.J. 1997. Happiness and economic performance. Economic Journal 107: 1815–1831.CrossRefGoogle Scholar
  134. Parducci, A. 1995. Happiness, pleasure, and judgement: The contextual theory and its applications. Hillsdale: L. Erlbaum Associates.Google Scholar
  135. Pavot, W., and E. Diener. 1993. Review of the satisfaction with life scale. Psychological Assessment 5: 164–172.CrossRefGoogle Scholar
  136. Pomfret, Gill. 2006. Mountaineering adventure tourists: A conceptual framework for research. Tourism Management 27: 113–123.CrossRefGoogle Scholar
  137. Powdthavee, N. 2011. The happiness equation: The surprising economics of our most valuable asset. London: Icon Books.Google Scholar
  138. Robbins, L.C. 1935. An essay on the nature and significance of economic science. London: Macmillan.Google Scholar
  139. Robinson, M.D., and R.J. Compton. 2008. The happy mind in action: The cognitive basis of subjective well-being. In The science of subjective well-being, ed. M. Eid, and R.J. Larsen, 220–238. Guilford Press.Google Scholar
  140. Ryff, C.D. 1989. Happiness is everything, or is it? Explorations on the meaning of psychological well-being. Journal of Personality and Social Psychology 57: 1069–1081.CrossRefGoogle Scholar
  141. Schooler, J.W., D. Ariely, and G. Loewenstein. 2003. The pursuit and assessment of happiness can be self-defeating. In The psychology of economic decision, ed. I. Brocas and J. Carillo. Oxford: Oxford University Press.Google Scholar
  142. Schumacher, E.F. 1973. Small is beautiful. New York: Harper & Row.Google Scholar
  143. Schwartz, B. 2004. The paradox of choice: Why more is less. New York: HarperCollins.Google Scholar
  144. Scitovsky, T. 1992. The joyless economy: The psychology of human satisfaction. Oxford: Oxford University Press.Google Scholar
  145. Seligman, M.E.P. 2002. Authentic happiness: Using the new positive psychology to realize your potential for lasting fulfillment. New York: Free Press.Google Scholar
  146. Seligman, M.E.P. 2004. Can happiness be taught? Daedalus 133: 80–87.CrossRefGoogle Scholar
  147. Seligman, M.E.P. 2011. Flourish: A visionary new understanding of happiness and well-being. New York: Free Press.Google Scholar
  148. Seligman, M.E.P., and M. Csikszentmihalyi. 2000. Positive psychology: An introduction. American Psychologist 55: 5–14.CrossRefGoogle Scholar
  149. Sen, A. 1987. On ethics and economics. New York: Blackwell.Google Scholar
  150. Sen, A. 1999. Development as freedom. New York: Knopf.Google Scholar
  151. Shields, M.A., and S.W. Price. 2005. Exploring the economic and social determinants of psychological well-being and perceived social support in England. Journal of the Royal Statistical Society: Series A (Statistics in Society) 168: 513–537.CrossRefGoogle Scholar
  152. Sinnott, J.D. (ed.). 2013. Positive psychology: Advances in understanding adult motivation. New York: Springer.Google Scholar
  153. Smith, Adam. 1976. In The theory of moral sentiments, ed. D.D. Raphael and A.L. Macfie. Oxford: Oxford University Press.Google Scholar
  154. Snyder, C.R., and S.J. Lopez (eds.). 2005. Handbook of positive psychology. Oxford: Oxford University Press.Google Scholar
  155. Stevenson, B. & Wolfers, J. (2008) Economic growth and subjective well-being: Reassessing the Easterlin paradox. Brookings Papers on Economic Activity 39:1-102. (With extensive comments by Gary S. Becker, Luis Rayo, and Alan B. Krueger).Google Scholar
  156. Stiglitz, Joseph, Amartya Sen, and Jan-Paul Fitoussi (2009) Report by the commission on the measurement of economic performance and social progress. (
  157. Tay, L., and E. Diener. 2001. Needs and subjective well-being around the world. Journal of Personality and Social Psychology 101: 354–365.CrossRefGoogle Scholar
  158. Tversky, A., and D. Kahneman. 1981. The framing of decisions and the psychology of choice. Science 211: 453–458.CrossRefGoogle Scholar
  159. van der Rijt, J.-W. 2013. Public policy and the conditional value of happiness. Economics and Philosophy 29: 381–408.CrossRefGoogle Scholar
  160. van Praag, B. M. S. & Baarsma, B. E. (2014) Using happiness surveys to value intangibles: The case of airport noise. Discussion Paper No.1096, IZA, Bonn, Germany.Google Scholar
  161. Veenhoven, R. 1984. Conditions of happiness. Boston: D. Reidel.CrossRefGoogle Scholar
  162. Veenhoven, R. 1993. Happiness in nations: Subjective appreciation of life in 56 nations, 1946–1992. Rotterdam: Risbo Press.Google Scholar
  163. Veenhoven, R. 1996. Developments in satisfaction research. Social Indicators Research 37: 1–47.CrossRefGoogle Scholar
  164. Veenhoven, R. 2005. Happiness in hardship. In Economics and happiness: Framing the analysis, ed. L. Bruni and P.L. Porta. Oxford: Oxford University Press.Google Scholar
  165. Watson, D., L.A. Clark, and A. Tellegen. 1988. Development and validation of brief measures of positive and negative affect: The PANAS scales. Journal of Personality and Social Psychology 54: 1063–1070.CrossRefGoogle Scholar

Copyright information

© Springer Nature B.V. 2018

Authors and Affiliations

  1. 1.Department of EconomicsMonash UniversityClaytonAustralia

Personalised recommendations