On the Curvature of the Reporting Function from Objective Reality to Subjective Feelings
AbstractI 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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Bibliographic InfoPaper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 3344.
Length: 15 pages
Date of creation: Feb 2008
Date of revision:
Publication status: published in: Economics Letters, 2008, 100 (3), 369-372
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Other versions of this item:
- Oswald, Andrew J., 2008. "On the curvature of the reporting function from objective reality to subjective feelings," Economics Letters, Elsevier, vol. 100(3), pages 369-372, September.
- Oswald, Andrew J, 2008. "On the Curvature of the Reporting Function from Objective Reality to Subjective Feelings," The Warwick Economics Research Paper Series (TWERPS) 839, University of Warwick, Department of Economics.
- I3 - Health, Education, and Welfare - - Welfare and Poverty
- D1 - Microeconomics - - Household Behavior
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-03-15 (All new papers)
- NEP-LTV-2008-03-15 (Unemployment, Inequality & Poverty)
- NEP-UPT-2008-03-15 (Utility Models & Prospect Theory)
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