On the Curvature of the Reporting Function from Objective Reality to Subjective Feelings
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.Download Info
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Paper 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:
Handle: RePEc:wrk:warwec:839
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Related research
Keywords: 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
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-03-01 (All new papers)
- NEP-UPT-2008-03-01 (Utility Models & Prospect Theory)
References
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Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.Cited by:
- David Comerford & Liam Delaney & Colm Harmon, 2009.
"Experimental Tests of Survey Responses to Expenditure Questions,"
Working Papers
200925, Geary Institute, University College Dublin.
- David Comerford & Liam Delaney & Colm Harmon, 2009. "Experimental Tests of Survey Responses to Expenditure Questions," Fiscal Studies, Institute for Fiscal Studies, vol. 30(Special I), pages 419-433, December.
- Comerford, David & Delaney, Liam & Harmon, Colm P., 2009. "Experimental Tests of Survey Responses to Expenditure Questions," IZA Discussion Papers 4389, Institute for the Study of Labor (IZA).
- Deckers, Thomas & Falk, Armin & Schildberg-Hörisch, Hannah, 2013. "Nominal or Real? The Impact of Regional Price Levels on Satisfaction with Life," IZA Discussion Papers 7345, Institute for the Study of Labor (IZA).
- Aloys Prinz & Björn Bünger, . "Living in a material world: Happy Income and Happy Life Years," Working Papers 200116, Institute of Spatial and Housing Economics, Munster Universitary.
- Gil, Joan & Mora, Toni, 2011.
"The determinants of misreporting weight and height: The role of social norms,"
Economics & Human Biology,
Elsevier, vol. 9(1), pages 78-91, January.
- Joan Gil & Toni Mora, 2009. "The Determinants of Misreporting Weight and Height: The Role of Social Norms," Working Papers 2009-01, FEDEA.
- Betsey Stevenson & Justin Wolfers, 2008.
"Happiness Inequality in the United States,"
The Journal of Legal Studies,
University of Chicago Press, vol. 37(S2), pages S33-S79, 06.
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- Stevenson, Betsey & Wolfers, Justin, 2008. "Happiness Inequality in the United States," CEPR Discussion Papers 6929, C.E.P.R. Discussion Papers.
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- Bert Van Landeghem, 2012. "Panel Conditioning and Self-Reported Satisfaction: Evidence from International Panel Data and Repeated Cross-Sections," SOEPpapers on Multidisciplinary Panel Data Research 484, DIW Berlin, The German Socio-Economic Panel (SOEP).
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- Betsey Stevenson & Justin Wolfers, 2008. "Economic Growth and Subjective Well-Being: Reassessing the Easterlin Paradox," CESifo Working Paper Series 2394, CESifo Group Munich.
- Schurer, Stefanie & Yong, Jongsay, 2012.
"Personality, well-being and the marginal utility of income: What can we learn from random coefficient models?,"
Working Paper Series
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