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Happiness, Adaptation, and Decreasing Marginal Utility of Income

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  • Dwight R. Lee

    (University of Georgia and Ball State University)

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  • Dwight R. Lee, 2011. "Happiness, Adaptation, and Decreasing Marginal Utility of Income," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 27(Fall 2011), pages 63-73.
    • Handle: RePEc:jpe:journl:928
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    References listed on IDEAS

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    1. Di Tella, Rafael & Haisken-De New, John & MacCulloch, Robert, 2010. "Happiness adaptation to income and to status in an individual panel," Journal of Economic Behavior & Organization, Elsevier, vol. 76(3), pages 834-852, December.
    2. Peter J. Boettke (ed.), 2010. "Handbook on Contemporary Austrian Economics," Books, Edward Elgar Publishing, number 12822.
    3. J. A. Mirrlees, 1971. "An Exploration in the Theory of Optimum Income Taxation," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 38(2), pages 175-208.
    4. Dwight Lee, 2009. "Happiness and declining inframarginal values," Journal of Bioeconomics, Springer, vol. 11(1), pages 1-21, April.
    5. Daniel Kahneman & Amos Tversky, 2013. "Prospect Theory: An Analysis of Decision Under Risk," World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part I, chapter 6, pages 99-127, World Scientific Publishing Co. Pte. Ltd..
    6. Vendrik, Maarten C.M. & Woltjer, Geert B., 2007. "Happiness and loss aversion: Is utility concave or convex in relative income?," Journal of Public Economics, Elsevier, vol. 91(7-8), pages 1423-1448, August.
    7. Richard Easterlin, "undated". "Diminishing Marginal Utility of Income? A Caveat," University of Southern California Legal Working Paper Series usclwps-1004, University of Southern California Law School.
    8. Breit, William & Culbertson, William P, Jr, 1970. "Distributional Equality and Aggregate Utility: Comment," American Economic Review, American Economic Association, vol. 60(3), pages 435-441, June.
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    Cited by:

    1. Boris Nikolaev & Daniel L. Bennett, 2020. "Has Economic Growth Made Americans Better Off despite Rising Income Inequality? Evidence from Subjective Well-Being Data," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 35(Fall 2020), pages 63-92.
    2. Dwight R. Lee & J. R. Clark, 2018. "Can behavioral economists improve economic rationality?," Public Choice, Springer, vol. 174(1), pages 23-40, January.
    3. M. Hussain, 2014. "The Robustness of High Danish National Happiness: A Temporal Cross-Country Analysis of Population Subgroups," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 118(2), pages 759-774, September.

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