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on Economics of Happiness |
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Issue of 2008‒11‒11
two papers chosen by |
| By: | Carol Graham |
| Abstract: | This paper the issues involved in taking a broader, quality of life-based approach rather than an income-based approach to assessing welfare. Using tools provided by the economics of happiness and relying on both large-scale surveys and field research in Latin America, the paper shows how a quality of life approach can help to evaluate the welfare effects of factors ranging from health, education, and unemployment status to institutional arrangements such as inequality and opportunity. Nonetheless, directly inferring policy implications from the results is problematic because of factors including norms and expectations based on differences in the way individuals answer questions to surveys and lack of clarity in the definition of happiness. The latter allows for research comparisons across individuals and cultures but presents challenges as a basis for policymaking. |
| Date: | 2008–11 |
| URL: | http://d.repec.org/n?u=RePEc:idb:wpaper:4598&r=hap |
| By: | Amavilah, Voxi Heinrich |
| Abstract: | This exploratory paper estimates the effects on well-being of two very important institutional symbols of 59 countries in 2007: national flags and constitutions. The results indicate that well-being responds positively to investment in material things as well as the existence of flags. However, nationalwell-being is highly inelastic with respect to measures of constitutions and national flag colors. In fact, nations with fewer flag colors, infrequent constitutional changes, and small constitutions tend to have higher well-being than others. I resist comment on what this all means, but it would seem GDP per capita, despite its obvious limitations, is still the most important influence on national well-being. |
| Keywords: | Well-being of nations; humand development index (HDI); national flags; number of constitutions; articles of constitutions; national flag colors |
| JEL: | O11 O43 Z00 C31 |
| Date: | 2008–11–04 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:11368&r=hap |