What Can Economists Learn from Happiness Research?

Over the past few years, there has been a steadily increasing interest on the part of economists in happiness research. We argue that reported subjective well-being is a satisfactory empirical approximation to individual utility and that happiness research is able to contribute important insights for economics. We report how the economic variables income, unemployment and inflation affect happiness as well as how institutional factors, in particular the type of democracy and the extent of government decentralization, systematically influence how satisfied individuals are with their life. We discuss some of the consequences for economic policy and for economic theory.

[1]  J. Bentham.  An Introduction to the Principles of Morals and Legislation , 1945, Princeton Readings in Political Thought.

[2]  F. E..  Principles of Economics , 1890, Nature.

[3]  T. Veblen.  The Theory of the Leisure Class , 1901 .

[4]  I. Fisher,et al.  The Money Illusion. , 1929 .

[5]  L. Robbins,et al.  An Essay on the Nature and Significance of Economic Science. , 1934 .

[6]  Pitfalls in the Statistical Construction of Demand and Supply Curves. , 1933 .

[7]  J. Hicks,et al.  A Reconsideration of the Theory of Value. Part II. A Mathematical Theory of Individual Demand Functions , 1934 .

[8]  J. Hicks,et al.  A Reconsideration of the Theory of Value. Part I , 1934 .

[9]  F. W. Irwin.  The realism of expectations. , 1944 .

[10]  F. Modigliani.  Fluctuations in the Saving-Income Ratio: A Problem in Economic Forecasting , 1949 .

[11]  J. Duesenberry,et al.  Income, Saving, and the Theory of Consumer Behavior , 1950 .

[12]  K. Arrow.  Social Choice and Individual Values , 1951 .

[13]  Charles M. Tiebout.  A Pure Theory of Local Expenditures , 1956, Journal of Political Economy.

[14]  Kenneth J. Arrow,et al.  Economic Policy: Principles and Design. , 1958 .

[15]  P. Baran.  The Theory of the Leisure Class , 1957 .

[16]  J. Galbraith.  The Affluent Society , 1958 .

[17]  H. Helson.  Adaptation-level theory : an experimental and systematic approach to behavior , 1964 .

[18]  Henri Theil.  Optimal decision rules for government and industry , 1965 .

[19]  Robert A. Pollak,et al.  Habit Formation and Dynamic Demand Functions , 1970, Journal of Political Economy.

[20]  Albert O. Hirschman,et al.  Exit, Voice, and Loyalty , 1970 .

[21]  D. Campbell,et al.  Hedonic relativism and planning the good society , 1971 .

[22]  D. Goldberg.  The detection of psychiatric illness by questionnaire : a technique for the identification and assessment of non-psychotic psychiatric illness , 1972 .

[23]  Arie Kapteyn,et al.  Further evidence on the individual welfare function of income: An empirical investigatiion in The Netherlands , 1973 .

[24]  G. Becker.  A Theory of Social Interactions , 1974 .

[25]  T. Suzuki,et al.  Standard of Living , 1969 .

[26]  R. Easterlin.  Does Economic Growth Improve the Human Lot? Some Empirical Evidence , 1974 .

[27]  The Pool Winners , 1975 .

[28]  T. Scitovsky.  The Joyless Economy: An Inquiry into Human Satisfaction and Consumer Dissatisfaction , 1976 .

[29]  D. Mcclure.  Time and money. , 1977, British medical journal.

[30]  Arie Kapteyn,et al.  Twelve thousand individual welfare functions , 1977 .

[31]  W. McEachern.  COLLECTIVE DECISION RULES AND LOCAL DEBT CHOICE: A TEST OF THE MEDIAN-VOTER HYPOTHESIS , 1978, National Tax Journal.

[32]  F. Schneider,et al.  FISCAL ILLUSION, POLITICAL INSTITUTIONS, AND LOCAL PUBLIC SPENDING , 1978 .

[33]  W. Pommerehne.  Institutional approaches to public expenditure: Empirical evidence from Swiss municipalities , 1978 .

[34]  Michael J. Boskin,et al.  Optimal Redistributive Taxation When Individual Welfare Depends upon Relative Income , 1978 .

[35]  H. Arndt,et al.  Social limits to growth , 1978 .

[36]  P. Brickman,et al.  Lottery winners and accident victims: is happiness relative? , 1978, Journal of personality and social psychology.

[37]  Richard Layard,et al.  Human Satisfactions and Public Policy , 1980 .

[38]  R. Lucas.  Discussion of : Stanley Fischer, “towards an understanding of the costs of inflation: II” , 1981 .

[39]  S. Fischer.  Towards an understanding of the costs of inflation: II , 1981 .

[40]  David E. Bell,et al.  Regret in Decision Making under Uncertainty , 1982, Oper. Res..

[41]  R. Sugden,et al.  Regret Theory: An alternative theory of rational choice under uncertainty Review of Economic Studies , 1982 .

[42]  A. Sen,et al.  Choice, Welfare and Measurement , 1982 .

[43]  Sara van de Geer,et al.  The Relativity of Utility: Evidence from Panel Data , 1985 .

[44]  E. Diener,et al.  Subjective well-being. , 1984, Psychological bulletin.

[45]  Tom Wansbeek,et al.  THE INDIVIDUAL WELFARE FUNCTION - A REVIEW , 1985 .

[46]  Optimal decision rules , 1985 .

[47]  Michelle T. Iaffaldano,et al.  Job satisfaction and job performance: A meta-analysis. , 1985 .

[48]  Geoffrey Brennan,et al.  The Reason of Rules: Constitutional Political Economy. , 1987 .

[49]  R. Frank.  The Demand for Unobservable and Other Nonpositional Goods , 1985 .

[50]  Robert A. Pollak,et al.  Rationality and Social Choice , 1986 .

[51]  J. Elliott.  Democratic Economic Policy , 1986 .

[52]  Amartya Sen,et al.  The Standard of Living. , 1988 .

[53]  P. Costa,et al.  Personality in adulthood: a six-year longitudinal study of self-reports and spouse ratings on the NEO Personality Inventory. , 1988, Journal of personality and social psychology.

[54]  G. Sheehan.  Pursuing Happiness. , 1988, The Physician and sportsmedicine.

[55]  M. Fordyce,et al.  A review of research on the happiness measures: A sixty second index of happiness and mental health , 1988 .

[56]  Representative versus direct democracy a Tiebout test of relative performance: Comment , 1988 .

[57]  B. V. Praag,et al.  The Relativity of the Welfare Concept , 1989 .

[58]  R. Inglehart.  Culture Shift in Advanced Industrial Society , 1991 .

[59]  R. Santerre.  Representative versus direct democracy: Are there any expenditure differences? , 1989 .

[60]  R. H. Smith,et al.  Intrapersonal and social comparison determinants of happiness: a range-frequency analysis. , 1989, Journal of personality and social psychology.

[61]  Peter J. Hammond,et al.  Interpersonal Comparisons of Well-being: Interpersonal comparisons of utility: Why and how they are and should be made , 1990 .

[62]  G. Mizon,et al.  Costs of Inflation , 1990 .

[63]  W. Pommerehne.  The empirical relevance of comparative institutional analysis , 1990 .

[64]  B. V. Praag,et al.  Ordinal and cardinal utility , 1991 .

[65]  R. Thaler.  The Winner s Curse , 1991 .

[66]  A. Wearing,et al.  Subjective well-being: A stocks and flows framework. , 1991 .

[67]  Amos Tversky,et al.  Endowment and contrast in judgments of well-being. , 1991 .

[68]  John P. Robinson,et al.  Measures Of Personality And Social Psychological Attitudes , 1991 .

[69]  John P. Robinson,et al.  CHAPTER 3 – Measures of Subjective Well-Being , 1991 .

[70]  Michael Argyle,et al.  Subjective well-being: An interdisciplinary perspective. , 1991 .

[71]  A. Michalos.  Global report on student well-being , 1991 .

[72]  M. Dew,et al.  Mental health effects of job loss in women , 1992, Psychological Medicine.

[73]  Alex C. Michaelos.  Subjective well-being: An interdisciplinary perspective , 1992 .

[74]  J. Elster,et al.  Utility from memory and anticipation. , 1992 .

[75]  D. Myers.  The Pursuit of Happiness: Who Is Happy - and Why? , 1993 .

[76]  Stanley Lebergott.  Pursuing Happiness: American Consumers in the Twentieth Century , 1993 .

[77]  Ed Diener,et al.  Subjective Well‐Being: The Convergence and Stability of Self‐Report and Non‐Self‐Report Measures , 1993 .

[78]  E. Diener,et al.  The affective and cognitive context of self-reported measures of subjective well-being , 1993 .

[79]  B. Graetz.  Health consequences of employment and unemployment: longitudinal evidence for young men and women. , 1993, Social science & medicine.

[80]  R. Santerre.  Representative versus direct democracy: The role of public bureaucrats , 1993 .

[81]  B. Kahn,et al.  The Influence of Positive Affect on Variety Seeking among Safe, Enjoyable Products , 1993 .

[82]  R. Veenhoven,et al.  Happiness in nations: Subjective appreciation of life in 56 nations 1946–1992. , 1993 .

[83]  C. Carroll,et al.  Saving and Growth: A Reinterpretation , 1993 .

[84]  Report of the NOOA Panel on Contingent Valuation , 1993 .

[85]  David Butler,et al.  Referendums Around the World: The Growing Use of Direct Democracy , 1994 .

[86]  David Butler,et al.  Referendums around the World , 1994 .

[87]  R. Sugden,et al.  The Quality of Life. , 1994 .

[88]  A. Oswald,et al.  Unhappiness and Unemployment , 1994 .

[89]  Andrew Postlewaite,et al.  Relative Income Concerns and the Rise in Married Women&Apos;S Employment , 1995 .

[90]  José-Miguel Fernández-Dols,et al.  Are smiles a sign of happiness ? Gold medal winners at the olympic games , 1995 .

[91]  E. Plug,et al.  Family Equivalence Scales within a Narrow and Broad Welfare Context , 1995, Journal of Income Distribution®.

[92]  Allen Parducci,et al.  Happiness, Pleasure, and Judgment: The Contextual Theory and Its Applications , 1995 .

[93]  R. Easterlin.  Will raising the incomes of all increase the happiness of all , 1995 .

[94]  J. Matsusaka.  Fiscal Effects of the Voter Initiative: Evidence from the Last 30 Years , 1995, Journal of Political Economy.

[95]  Clive Briault.  The Costs of Inflation , 1995 .

[96]  E. Diener,et al.  Factors predicting the subjective well-being of nations. , 1995, Journal of personality and social psychology.

[97]  Amartya Sen,et al.  Rationality and Social Choice , 1995 .

[98]  C. Ruhm,et al.  Are Recessions Good for Your Health? , 1996 .

[99]  Hannelore Weck-Hannemann,et al.  Tax rates, tax administration and income tax evasion in Switzerland , 1996 .

[100]  R. Shiller.  Why Do People Dislike Inflation? , 1996 .

[101]  Dennis C. Mueller,et al.  Perspectives on public choice : a handbook , 1996 .

[102]  Youth labour markets in 23 countries: a comparison using micro data , 1996 .

[103]  A. Oswald,et al.  Satisfaction and comparison income , 1996 .

[104]  J. Veum,et al.  The impact of labor force history on self-esteem and its component parts, anxiety, alienation and depression , 1996 .

[105]  Richard E. Lucas,et al.  Discriminant validity of well-being measures. , 1996, Journal of personality and social psychology.

[106]  Gesine Stephan,et al.  A paper on unhappiness and unemployment in Germany , 1996 .

[107]  Y. Ng.  Happiness surveys: Some comparability issues and an exploratory survey based on just perceivable increments , 1996 .

[108]  W. Darity,et al.  Social Psychology, Unemployment and Macroeconomics , 1996 .

[109]  Tomas Korpi,et al.  Is utility related to employment status? Employment, unemployment, labor market policies and subjective well-being among Swedish youth , 1997 .

[110]  A. Sen,et al.  Maximization and the Act of Choice , 1997 .

[111]  Dennis C. Mueller,et al.  Perspectives on Public Choice , 1997 .

[112]  Yew-Kwang Ng,et al.  A Case for Happiness, Cardinalism, and Interpersonal Comparability , 1997 .

[113]  A. Clark.  Job Satisfaction and Gender. Why are Women so Happy at Work , 1997 .

[114]  D. Kahneman,et al.  Back to Bentham? Explorations of experience utility , 1997 .

[115]  Robert S. Wyer,et al.  Cognitive Correlates of Subjective Well-Being: The Processing of Valenced Life Events by Happy and Unhappy Persons , 1997 .

[116]  Lars P. Feld,et al.  Direct Democracy Matters for Economic Performance: An Empirical Investigation , 1997 .

[117]  Andrew J. Oswald,et al.  Happiness and economic performance , 1997 .

[118]  Robert H. Frank,et al.  The Frame of Reference as a Public Good , 1997 .

[119]  Independent central banks and economic performance , 1997 .

[120]  Bruno S. Frey,et al.  A Constitution for Knaves Crowds Out Civic Virtues , 1997 .

[121]  Yew-Kwang Ng.  A Case For Happiness, Cardinalism, and Interpersonal Comparability , 1997 .

[122]  H. S. Lepper.  Use of Other-Reports to Validate Subjective Well-Being Measures , 1998 .

[123]  J. Zweimüller.  Schumpeterian Entrepreneurs Meet Engel's Law: The Impact of Inequality on Innovation-Driven Growth , 1998 .

[124]  R. Winkelmann,et al.  Why Are the Unemployed So Unhappy? Evidence from Panel Data , 1998 .

[125]  H. Cooper,et al.  The happy personality: a meta-analysis of 137 personality traits and subjective well-being. , 1998, Psychological bulletin.

[126]  A. Oswald,et al.  Comparison-concave utility and following behaviour in social and economic settings , 1998 .

[127]  J. Elster.  Emotions and Economic Theory , 1998 .

[128]  E. Fehr,et al.  Does Money Illusion Matter? , 1998 .

[129]  Anders Björklund,et al.  Unemployment and mental health: evidence from research in the Nordic countries , 1998 .

[130]  D. Slesnick.  Empirical Approaches to the Measurement of Welfare , 1998 .

[131]  M. Sirgy,et al.  Materialism and Quality of Life , 1998 .

[132]  Economics, values, and organization: The joyless market economy , 1998 .

[133]  B. Frey.  Art Fakes - What Fakes?, An Economic View , 1999 .

[134]  Klaus M. Schmidt,et al.  A Theory of Fairness, Competition, and Cooperation , 1999 .

[135]  Klaus M. Schmidt,et al.  Fairness, Incentives, and Contractual Choices , 1999 .

[136]  B. Frey,et al.  Measuring Preferences by Subjective Well-Being , 1999 .

[137]  Reto Schleiniger.  Ecological Tax Reform with Exemptions for the Export Sector in a Two Sector Two Factor Model , 1999 .

[138]  E. Fehr,et al.  Cooperation and Punishment in Public Goods Experiments , 1999, SSRN Electronic Journal.

[139]  Michael Argyle,et al.  Causes and correlates of happiness. , 1999 .

[140]  Charles Kenny,et al.  Does Growth Cause Happiness, or Does Happiness Cause Growth? , 1999 .

[141]  M. Lokshin,et al.  Identifying Welfare Effects from Subjective Questions , 1999 .

[142]  B. Frey,et al.  Does pay motivate volunteers , 1999 .

[143]  R. Inglehart.  Democracy and Trust: Trust, well-being and democracy , 1999 .

[144]  F. Strack,et al.  Reports of subjective well-being: Judgmental processes and their methodological implications. , 1999 .

[145]  A. Stutzer.  Demokratieindizes für die Kantone der Schweiz , 1999 .

[146]  K. Schenk-Hoppé,et al.  Business Cycle Phenomena in Overlapping Generations Economies with Stochastic Production , 1999 .

[147]  Richard E. Lucas,et al.  Subjective Weil-Being: Three Decades of Progress , 2004 .

[148]  B. Fredrickson,et al.  Measurement issues in emotion research. , 1999 .

[149]  R. Winter‐Ebmer,et al.  Intra-Firm Wage Dispersion and Firm Performance , 1999 .

[150]  James A. Athanasou,et al.  The effect of unemployment on mental health , 1999 .

[151]  Andrew E. Clark,et al.  Scarring: The Psychological Impact of Past Unemployment , 2001 .

[152]  H. Frank,et al.  Why Money Fails to Satisfy in an Era of Excess , 1999 .

[153]  R. Winter‐Ebmer,et al.  Do immigrants displace young native workers: The Austrian experience , 1999 .

[154]  R. Winter‐Ebmer,et al.  Firm Size Wage Differentials in Switzerland: Evidence from Job Changers , 1999 .

[155]  B. Frey,et al.  Outcome, Process & Power in Direct Democracy , 1999 .

[156]  D. Kahneman,et al.  Well-being : the foundations of hedonic psychology , 1999 .

[157]  W. Easterly,et al.  Life During Growth , 1999 .

[158]  P. Warr.  Well-being and the workplace. , 1999 .

[159]  Paul Frijters,et al.  The measurement of welfare and well-being; the Leyden approach , 1999 .

[160]  M. Knell.  Social Comparisons, Inequality, and Growth , 1999 .

[161]  Gary N. Marks,et al.  Influences and Consequences of Well-being Among Australian Young People: 1980–1995 , 1999 .

[162]  George Loewenstein,et al.  Because It Is There: The Challenge of Mountaineering… for Utility Theory , 1999 .

[163]  T. Hens,et al.  Financial Innovation, Communication and the Theory of the Firm , 2000 .

[164]  A. Löffler,et al.  On Uniqueness of Equilibria in the CAPM , 2000 .

[165]  B. Frey,et al.  Europe's Eminent Economists: A Quantitative Analysis , 2000 .

[166]  A. Michalos,et al.  Criminal Victimization and the Quality of Life , 2000 .

[167]  A. Wagner,et al.  Korporatismus im europäischen Vergleich: Förderung makroökonomischer Rahmenbedingungen? , 2000 .

[168]  Alfonso Sousa-Poza,et al.  Taking Another Look at the Gender/Job‐Satisfaction Paradox , 2000 .

[169]  B. Frey.  A Utopia? Government Without Territorial Monopoly , 2000 .

[170]  E. Fehr,et al.  Intertemporal Choice Under Habit Formation , 2000 .

[171]  B. Frey.  Art Fakes - What Fakes? , 2000 .

[172]  R. Di Tella,et al.  Partisan Social Happiness , 2000 .

[173]  Benjamin E. Hermalin,et al.  The Effect of Affect on Economic and Strategic Decision Making , 2000 .

[174]  E. Diener,et al.  Money and happiness: Income and subjective well-being across nations. , 2000 .

[175]  B. Frey,et al.  Motivation, Knowledge Transfer, and Organizational Forms , 2000 .

[176]  R. Lalive.  Did We Overestimate the Value of Health? , 2000 .

[177]  A. Ritschl,et al.  Did Monetary Forces Cause the Great Depression? A Bayesian VAR Analysis for the U.S. Economy , 2000 .

[178]  T. Hens,et al.  An Evolutionary Approach to Financial Innovation , 2000 .

[179]  Rudolf Winter-Ebmer,et al.  Firm-Specific Training: Consequences for Job Mobility , 2000 .

[180]  Ernst Fehr,et al.  Theories of Fairness and Reciprocity , 2001 .

[181]  D. Myers.  The funds, friends, and faith of happy people. , 2000, The American psychologist.

[182]  B. Frey,et al.  History as Reflected in Capital Markets: The Case of World War II , 2000, The Journal of Economic History.

[183]  B. Frey.  Why economists disregard economic methodology , 2000 .

[184]  Armin Falk,et al.  Work Motivation, Institutions, and Performance , 2000 .

[185]  U. Fischbacher,et al.  On the Nature of Fair Behavior , 1999 .

[186]  C. Graham,et al.  Frustrated Achievers: Winners, Losers, and Subjective Well Being in New Market Economies , 2000 .

[187]  S. Felder,et al.  Environmental tax reform : efficiency and political feasibility , 2000 .

[188]  Richard A. Easterlin,et al.  The Worldwide Standard of Living since 1800 , 2000 .

[189]  The Impact of Active Labor Market Programs and Benefit Entitlement Rules on the Duration of Unemployment , 2000, SSRN Electronic Journal.

[190]  Financial innovation, communication and the theory of the firm , 2000 .

[191]  R. Veenhoven,et al.  Stability of Life-satisfaction over Time , 2000 .

[192]  A. Falk,et al.  Choosing the Joneses: On the Endogeneity of Reference Groups , 2000 .

[193]  K. Schenk-Hoppé.  Economic Growth and Business Cycles: A Critical Comment on Detrending Time Series , 2001 .

[194]  Robert D. Cooter,et al.  The Strategic Constitution , 2000 .

[195]  Putting the Economy First: Or Does Postmodernization Really Matter? , 2000 .

[196]  B. Frey.  Does Economics Have an Effect? Towards an Economics of Economics , 2000 .

[197]  B. Frey,et al.  A Proposal for a Flexible Europe , 2000 .

[198]  Bjorn Schmalfuss,et al.  Random Fixed Points in a Stochastic Solow Growth Model , 2000 .

[199]  B. Frey.  Was bewirkt die Volkswirtschaftslehre , 2000 .

[200]  T. Iversen,et al.  Unions, Employers and Central Banks: Macroeconomic Coordination and Institutional Change in Social Market Economies , 2000 .

[201]  E. Fehr,et al.  Does Money Illusion Matter? REVISED VERSION , 2000 .

[202]  Reto Schleiniger.  Consumption Taxes and International Competitiveness in a Keynesian World , 2000 .

[203]  J. Schwarze.  Using Panel Data on Income Satisfaction to Estimate Equivalence Scale Elasticity , 2000 .

[204]  E. Fehr,et al.  Fairness and Retaliation: The Economics of Reciprocity , 2000, SSRN Electronic Journal.

[205]  E. Fehr,et al.  A Simple Mechanism for the Efficient Provision of Public Goods - Experimental Evidence , 2000 .

[206]  S. Gächter,et al.  Efficient Contracting and Fair Play in a Simple Principal-Agent Experiment , 2001 .

[207]  Jeffrey B. Henriques,et al.  While a phobic waits: regional brain electrical and autonomic activity in social phobics during anticipation of public speaking , 2000, Biological Psychiatry.

[208]  B. Frey,et al.  Motivation Crowding Theory: A Survey of Empirical Evidence , 2000, SSRN Electronic Journal.

[209]  R. Zeckhauser,et al.  More Order with Less Law: On Contract Enforcement, Trust, and Crowding , 2001, American Political Science Review.

[210]  Ruut Veenhoven,et al.  Freedom and happiness: A comparative study in forty-four nations in the early 1990s. , 2000 .

[211]  B. Frey,et al.  Happiness, Economy and Institutions , 2000, SSRN Electronic Journal.

[212]  G. Charness,et al.  Relative Payoffs and Happiness: An Experimental Study , 2001 .

[213]  D. Myers.  The funds, friends, and faith of happy people. , 2000 .

[214]  G. Loewenstein,et al.  Projection Bias in Predicting Future Utility , 2000 .

[215]  E. Fehr,et al.  Do Incentive Contracts Crowd Out Voluntary Cooperation? , 2000 .

[216]  Anke Gerber,et al.  Direct Versus Intermediated Finance: An Old Question and a New Answer , 2001 .

[217]  Klaus Reiner Schenk-Hoppé,et al.  Random Dynamical Systems in Economics , 2000 .

[218]  Klaus Reiner Schenk-Hoppé,et al.  Stochastic Tastes and Money in a Neo-Keynesian Economy , 2001 .

[219]  Reto Schleiniger,et al.  Money Illusion and the Double Dividend in the Short Run , 2001 .

[220]  A. Alesina,et al.  Inequality and Happiness: Are Europeans and Americans Different? , 2001 .

[221]  A. Alesina,et al.  Inequality and Happiness: Are Europeans and Americans Different? , 2001 .

[222]  Reto Schleiniger.  Energy Tax Reform with Exemptions for the Energy-Intensive Export Sector , 2001 .

[223]  R. Nesse.  Luxury Fever: Why Money Fails to Satisfy in an Era of Excess , 2001 .

[224]  S. Gächter,et al.  Reputation and Reciprocity: Consequences for the Labour Relation , 2001, SSRN Electronic Journal.

[225]  T. Hens,et al.  Evolution of Portfolio Rules in Incomplete Markets , 2001 .

[226]  Rabah Amir,et al.  Market Selection and Survival of Investment Strategies , 2001 .

[227]  Klaus Reiner Schenk-Hoppé,et al.  From Rags to Riches: On Constant Proportions Investment Strategies , 2001 .

[228]  Kennon M. Sheldon,et al.  Life goals and well-being: Towards a positive psychology of human striving , 2001 .

[229]  Albrecht Ritschl,et al.  Deficit Spending in the Nazi Recovery, 1933-1938: A Critical Reassessment , 2000 .

[230]  A. Stutzer,et al.  Was erklärt die steigenden Managerlöhne , 2001 .

[231]  Christian Thöni,et al.  Inefficient Excess Entry in an Experimental Winner-Take-All Market , 2008 .

[232]  B. Frey,et al.  Flexible Citizenship for a Global Society , 2001 .

[233]  Jan Marc Berk,et al.  The Lucas Critique in Practice: An Empirical Investigation of the Impact of European Monetary Integration on the Term Structure , 2001 .

[234]  E. Deci,et al.  On happiness and human potentials: a review of research on hedonic and eudaimonic well-being. , 2001, Annual review of psychology.

[235]  Stephan Meier,et al.  Political Economists are Neither Selfish Nor Indoctrinated , 2001, SSRN Electronic Journal.

[236]  H. Holländer.  On the validity of utility statements: standard theory versus Duesenberry’s , 2001 .

[237]  Thorsten Hens,et al.  The Transfer Paradox and Sunspot Equilibria , 2001 .

[238]  Thorsten Hens,et al.  An Extension of Mantel (1976) to Incomplete Markets , 2001 .

[239]  Marc Le Menestrel,et al.  A Process Approach to the Utility for Gambling , 2001 .

[240]  Alois Stutzer,et al.  Are Stock Options the Managers' Blessing? Stock Option Compensation and Institutional Controls , 2001 .

[241]  T. Hens,et al.  MARKET SELECTION OF FINANCIAL TRADING STRATEGIES: GLOBAL STABILITY , 2002 .

[242]  R. Easterlin.  Income and Happiness: Towards a Unified Theory , 2001 .

[243]  J. Habermas,et al.  Constitutional Democracy , 2001 .

[244]  Bruno S. Frey,et al.  Ökonomie und Psychologie , 2001 .

[245]  Ernst Fehr,et al.  Fairness, Incentives and Contractual Incompleteness , 2001, SSRN Electronic Journal.

[246]  C. Graham,et al.  Happiness, Markets, and Democracy: Latin America in Comparative Perspective , 2001 .

[247]  R. Ryan,et al.  Be careful what you wish for: Optimal functioning and the relative attainment of intrinsic and extrinsic goals. , 2001 .

[248]  S. Mullainathan,et al.  Do People Mean What They Say? Implications for Subjective Survey Data , 2001 .

[249]  J. Kaprio,et al.  Life satisfaction and suicide: a 20-year follow-up study. , 2001, The American journal of psychiatry.

[250]  U. Fischbacher,et al.  Are People Conditionally Cooperative? Evidence from a Public Goods Experiment , 2001 .

[251]  Andrew J. Oswald,et al.  Preferences over Inflation and Unemployment: Evidence from Surveys of Happiness , 2001 .

[252]  What can Economists learn from Happiness Research? Revised Version , 2001 .

[253]  U. Fischbacher,et al.  Appropriating the Commons - a Theoretical Explanation , 2001, SSRN Electronic Journal.

[254]  J. Helliwell,et al.  How&Apos;S Life? Combining Individual and National Variables to Explain Subjective Well-Being , 2002 .

[255]  Thorsten Hens,et al.  Soft Landing of a Stock Market Bubble. An Experimental Study , 2002 .

[256]  S. Hopp,et al.  IS THERE A GOLDEN RULE FOR THE STOCHASTIC SOLOW GROWTH MODEL? , 2002, Macroeconomic Dynamics.

[257]  Andrew J. Oswald,et al.  Does Money Buy Happiness? A Longitudinal Study Using Data on Windfalls , 2002 .

[258]  John P. Haisken-DeNew,et al.  How Well Do Individuals Predict Their Future Life Satisfaction? Evidence from Panel Data Following a Nationwide Exogenous Shock , 2002 .

[259]  Klaus Reiner Schenk-Hoppé,et al.  Sample-Path Stability of Non-Stationary Dynamic Economic Systems , 2001, Ann. Oper. Res..

[260]  U. Fischbacher,et al.  Why Social Preferences Matter - the Impact of Non-Selfish Motives on Competition, Cooperation and Incentives , 2002 .

[261]  Bruno S. Frey,et al.  Liliput oder Leviathan? Der Staat in der globalisierten Wirtschaft , 2002 .

[262]  Anthony Clunies‐Ross.  Happiness and Economics: How the Economy and Institutions Affect Human Well‐being , 2002 .

[263]  J. Schwarze,et al.  Are People Inequality Averse, and Do They Prefer Redistribution by the State? Evidence from German Longitudinal Data on Life Satisfaction , 2002, SSRN Electronic Journal.

[264]  J. Schwarze,et al.  Are People Inequality Averse, and Do They Prefer Redistribution by the State? A Revised Version , 2003, SSRN Electronic Journal.

[265]  B. Frey,et al.  Happiness and Economics: How the Economy and Institutions Affect Human Well-Being , 2003 .

[266]  A. Stutzer,et al.  The Role of Social Work Norms in Job Searching and Subjective Well-Being , 2003, SSRN Electronic Journal.

[267]  E. Fehr,et al.  Robustness and Real Consequences of Nominal Wage Rigidity , 2003, SSRN Electronic Journal.

[268]  Matthias Benz,et al.  Being Independent is a Great Thing: Subjective Evaluations of Self-Employment and Hierarchy , 2003, SSRN Electronic Journal.

[269]  Bruno S. Frey,et al.  Does Marriage Make People Happy, or Do Happy People Get Married? , 2005 .

[270]  Andrew E. Clark,et al.  Unemployment as a Social Norm: Psychological Evidence from Panel Data , 2003, Journal of Labor Economics.

[271]  Yew-Kwang Ng,et al.  From preference to happiness: Towards a more complete welfare economics , 2003, Soc. Choice Welf..

[272]  Armin Falk.  Homo Oeconomicus Versus Homo Reciprocans: Ansätze für ein Neues Wirtschaftspolitisches Leitbild? , 2003 .

[273]  D. Kahneman.  A Psychological Perspective on Economics , 2003 .

[274]  Rainald Borck.  Führt fiskalische Äquivalenz zu einer effizienten Allokation?: die Rolle von Mehrheitsabstimmungen , 2003 .

[275]  R. Veenhoven,et al.  STABILITY OF LIFE-SATISFACTION OVER TIME Analysis of change in ranks in a national population , 2003 .

[276]  Richard A. Easterlin,et al.  Explaining happiness , 2003, Proceedings of the National Academy of Sciences of the United States of America.

[277]  Stefan Felder,et al.  Fossile Energiepolitik jenseits von Kyoto , 2003 .

[278]  Y. H. Farzin,et al.  Sustainability , Optimality , and Development Policy , 2022 .