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Type	Working Paper
Scope	Discipline-based scholarship
Title	What can Economists learn from Happiness Research? Revised Version
Organization Unit	Theory of Economic Policy and Non-Market Economics (Bruno Frey)
Authors	Bruno Frey Alois Stutzer
Language	English
Institution	University of Zurich
Series Name	Working paper series / Institute for Empirical Research in Economics
Number	No. 80
ISSN	1424-0459
Date	2001
Abstract Text	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.
Official URL	http://www.econ.uzh.ch/wp.html
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