Just a perfect day? Developing a happiness optimised day schedule
AbstractWith the Day Reconstruction Method (DRM), Kahneman, Krueger, Schkade, Schwarz, and Stone (2004) introduced an important approach in subjective well-being (SWB) research to explore how people experience daily activities. A major unresolved question for laypeople and scholars alike resulting from this research, however, is the neglect of saturation and scarcity effects in this area of study. To fill this gap, we apply methods from optimisation research to the field of SWB. Combining utility functions with DRM data allows us to generate an optimal day schedule: It differs considerably from how people usually spend their time, whereby the distribution of activities is remarkably even. The results show how a paradigm shift away from a focus on increasing Gross Domestic Product towards greater well-being at the macrolevel could play out at the microlevel with potential consequences for how we might live our day-to-day lives.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Psychology.
Volume (Year): 34 (2013)
Issue (Month): C ()
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Day Reconstruction Method; Time use; Affect; Subjective well-being; Optimisation;
Find related papers by JEL classification:
- I10 - Health, Education, and Welfare - - Health - - - General
- J22 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Time Allocation and Labor Supply
- C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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"How's Life? Combining Individual and National Variables to Explain Subjective Well-Being,"
NBER Working Papers
9065, National Bureau of Economic Research, Inc.
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- Friend, Irwin & Blume, Marshall E, 1975. "The Demand for Risky Assets," American Economic Review, American Economic Association, vol. 65(5), pages 900-922, December.
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