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 University of Warwick, Department of Economics in its series The Warwick Economics Research Paper Series (TWERPS) with number 839.
Length: 14 pages
Date of creation: 2008
Date of revision:
Money ; diminishing marginal utility ; height ; concavity;
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," IZA Discussion Papers 3344, Institute for the Study of Labor (IZA).
- I3 - Health, Education, and Welfare - - Welfare and Poverty
- D1 - Microeconomics - - Household Behavior
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