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Happiness Research: State and Prospects

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  • Bruno Frey
  • Alois Stutzer

Abstract

This paper intends to provide an evaluation of where the economic research on happiness stands and in which interesting directions it might develop. First, the current state of the research on happiness in economics is briefly discussed. We emphasize the potential of happiness research in testing competing theories of individual behavior. Second, the crucial issue of causality is taken up illustrating it for a particular case, namely whether marriage makes people happy or whether happy people get married. Third, happiness research is taken up as a new approach to measuring utility in the context of cost-benefit analysis.

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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal Review of Social Economy.

Volume (Year): 63 (2005)
Issue (Month): 2 ()
Pages: 207-228

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Handle: RePEc:taf:rsocec:v:63:y:2005:i:2:p:207-228

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Keywords: causality; cost-benefit analysis; happiness research; life satisfaction approach; marriage; selection; subjective well-being; terrorism;

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