Solving the income-happiness paradox
<p>Easterlin notes a contradiction in the data. While the cross-sectional data set shows that happiness is a positive monotonic function of income, the time-series data set of high income countries demonstrates that happiness does not rise with the rise of income. To solve the paradox, this pa...
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| منشور في: |
2022
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| _version_ | 1864513567190941696 |
|---|---|
| author | Elias L. Khalil (20518877) |
| author_facet | Elias L. Khalil (20518877) |
| author_role | author |
| dc.creator.none.fl_str_mv | Elias L. Khalil (20518877) |
| dc.date.none.fl_str_mv | 2022-07-22T06:00:00Z |
| dc.identifier.none.fl_str_mv | 10.1007/s12232-022-00398-0 |
| dc.relation.none.fl_str_mv | https://figshare.com/articles/journal_contribution/Solving_the_income-happiness_paradox/21597669 |
| dc.rights.none.fl_str_mv | CC BY 4.0 info:eu-repo/semantics/openAccess |
| dc.subject.none.fl_str_mv | Economics Applied economics Human society Social work Sociology Psychology Social and personality psychology Relative income hypothesis Set point theory Easterlin paradox Daniel Kahneman Happiness-as-aspiration Happiness-as-tranquility Substantive goods Substantive utility Transcendental utility Counterfactual well-being Desired well-being |
| dc.title.none.fl_str_mv | Solving the income-happiness paradox |
| dc.type.none.fl_str_mv | Text Journal contribution info:eu-repo/semantics/publishedVersion text contribution to journal |
| description | <p>Easterlin notes a contradiction in the data. While the cross-sectional data set shows that happiness is a positive monotonic function of income, the time-series data set of high income countries demonstrates that happiness does not rise with the rise of income. To solve the paradox, this paper proposes that each data set reveals a different facet of happiness. The cross-sectional data set asks people how they assess their current well-being in general. This question prompts people to contrast their current well-being with a well-being in the distant past. This explains why happiness tracks income. In comparison, the time-series data ask people how they feel at the moment. This question prompts people to contrast their current well-being with an aspired goal in the future. Their response is a function of the gap that exists between their current well-being and the aspired one. The gap is usually steady for high income countries and, hence, happiness is likewise steady, i.e., insensitive to the rise of income. The proposed solution highlights the operation of contextual assessment: we have two facets of happiness following the two kinds of context in operation.</p><h2>Other Information</h2> <p> Published in: International Review of Economics<br> License: <a href="https://creativecommons.org/licenses/by/4.0" target="_blank">https://creativecommons.org/licenses/by/4.0</a><br>See article on publisher's website: <a href="http://dx.doi.org/10.1007/s12232-022-00398-0" target="_blank">http://dx.doi.org/10.1007/s12232-022-00398-0</a></p> |
| eu_rights_str_mv | openAccess |
| id | Manara2_0e426871c539683b41c752dd80247abb |
| identifier_str_mv | 10.1007/s12232-022-00398-0 |
| network_acronym_str | Manara2 |
| network_name_str | Manara2 |
| oai_identifier_str | oai:figshare.com:article/21597669 |
| publishDate | 2022 |
| repository.mail.fl_str_mv | |
| repository.name.fl_str_mv | |
| repository_id_str | |
| rights_invalid_str_mv | CC BY 4.0 |
| spelling | Solving the income-happiness paradoxElias L. Khalil (20518877)EconomicsApplied economicsHuman societySocial workSociologyPsychologySocial and personality psychologyRelative income hypothesisSet point theoryEasterlin paradoxDaniel KahnemanHappiness-as-aspirationHappiness-as-tranquilitySubstantive goodsSubstantive utilityTranscendental utilityCounterfactual well-beingDesired well-being<p>Easterlin notes a contradiction in the data. While the cross-sectional data set shows that happiness is a positive monotonic function of income, the time-series data set of high income countries demonstrates that happiness does not rise with the rise of income. To solve the paradox, this paper proposes that each data set reveals a different facet of happiness. The cross-sectional data set asks people how they assess their current well-being in general. This question prompts people to contrast their current well-being with a well-being in the distant past. This explains why happiness tracks income. In comparison, the time-series data ask people how they feel at the moment. This question prompts people to contrast their current well-being with an aspired goal in the future. Their response is a function of the gap that exists between their current well-being and the aspired one. The gap is usually steady for high income countries and, hence, happiness is likewise steady, i.e., insensitive to the rise of income. The proposed solution highlights the operation of contextual assessment: we have two facets of happiness following the two kinds of context in operation.</p><h2>Other Information</h2> <p> Published in: International Review of Economics<br> License: <a href="https://creativecommons.org/licenses/by/4.0" target="_blank">https://creativecommons.org/licenses/by/4.0</a><br>See article on publisher's website: <a href="http://dx.doi.org/10.1007/s12232-022-00398-0" target="_blank">http://dx.doi.org/10.1007/s12232-022-00398-0</a></p>2022-07-22T06:00:00ZTextJournal contributioninfo:eu-repo/semantics/publishedVersiontextcontribution to journal10.1007/s12232-022-00398-0https://figshare.com/articles/journal_contribution/Solving_the_income-happiness_paradox/21597669CC BY 4.0info:eu-repo/semantics/openAccessoai:figshare.com:article/215976692022-07-22T06:00:00Z |
| spellingShingle | Solving the income-happiness paradox Elias L. Khalil (20518877) Economics Applied economics Human society Social work Sociology Psychology Social and personality psychology Relative income hypothesis Set point theory Easterlin paradox Daniel Kahneman Happiness-as-aspiration Happiness-as-tranquility Substantive goods Substantive utility Transcendental utility Counterfactual well-being Desired well-being |
| status_str | publishedVersion |
| title | Solving the income-happiness paradox |
| title_full | Solving the income-happiness paradox |
| title_fullStr | Solving the income-happiness paradox |
| title_full_unstemmed | Solving the income-happiness paradox |
| title_short | Solving the income-happiness paradox |
| title_sort | Solving the income-happiness paradox |
| topic | Economics Applied economics Human society Social work Sociology Psychology Social and personality psychology Relative income hypothesis Set point theory Easterlin paradox Daniel Kahneman Happiness-as-aspiration Happiness-as-tranquility Substantive goods Substantive utility Transcendental utility Counterfactual well-being Desired well-being |