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| Type | Working Paper |
| Scope | Discipline-based scholarship |
| Title | Hedonic Capital and the Foundations of Mental Health |
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| Institution | University of Zurich |
| Series Name | Working paper series / Institute for Empirical Research in Economics |
| Number | No. 397 |
| ISSN | 1424-0459 |
| Date | 2008 |
| Abstract Text | This paper suggests a way to think about human well-being and psychological health. It distinguishes between mental stocks and flows. Central to thenanalysis is a concept we refer to as hedonic capital. This can be thought of as a level of emotional coping resources, or as the underlying stock to which the economist’s idea of a flow of utility corresponds. The model replicates the patterns found in the recent empirical psychology and economics literature: there is an approximately stable level of mental well-being and an automatic tendency to adapt back towards that level. Conventional economic theory does not fit these facts. |
| Official URL | http://www.econ.uzh.ch/wp.html |
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