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On the Curvature of the Reporting Function from Objective Reality to Subjective Feelings

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Author Info
Oswald, Andrew J. () (University of Warwick)

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Abstract

I suggest the idea of a reporting function, r(.), from reality to feelings. The ‘happiness’ literature claims we have demonstrated diminishing marginal utility of income. I show not, and that knowing r(.)’s curvature is crucial. A quasi-experiment on heights is studied.

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Publisher Info
Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 3344.

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Length: 15 pages
Date of creation: Feb 2008
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Publication status: forthcoming in: Economics Letters
Handle: RePEc:iza:izadps:dp3344

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Related research
Keywords: money diminishing marginal utility height concavity

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Find related papers by JEL classification:
I3 - Health, Education, and Welfare - - Welfare and Poverty
D1 - Microeconomics - - Household Behavior

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  1. Easterlin, Richard A., 1995. "Will raising the incomes of all increase the happiness of all?," Journal of Economic Behavior & Organization, Elsevier, vol. 27(1), pages 35-47, June. [Downloadable!] (restricted)
  2. Alan B. Krueger & David A. Schkade, 2007. "The Reliability of Subjective Well-Being Measures," IZA Discussion Papers 2724, Institute for the Study of Labor (IZA). [Downloadable!]
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  3. Nattavudh Powdthavee, 2005. "Unhappiness and Crime: Evidence from South Africa," Economica, London School of Economics and Political Science, vol. 72(3), pages 531-547, 08. [Downloadable!] (restricted)
    Other versions:
  4. Richard Layard & Guy Mayraz & Stephen Nickell, 2007. "The Marginal Utility of Income," CEP Discussion Papers dp0784, Centre for Economic Performance, LSE. [Downloadable!]
    Other versions:
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This page was last updated on 2008-7-14.

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