Thinking About It: A Note on Attention and Well-Being Losses From Unemployment
AbstractThis note investigates Schkade and Kahneman's (1998) maxim that "Nothing in life is quite as important as you think it is while you are thinking about it". The paper shows that whilst becoming unemployed hurts psychologically, unemployment has a greater impact on happiness if the person also regards it as an important event that took place in the last year. This finding, particularly if it is replicated for other domains, such as health and income, will have important implications for how we think about the impact of objective circumstances on well-being and about well-being more generally.
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Bibliographic InfoPaper provided by Department of Economics, University of York in its series Discussion Papers with number 08/17.
Date of creation: Jul 2008
Date of revision:
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Postal: Department of Economics and Related Studies, University of York, York, YO10 5DD, United Kingdom
Phone: (0)1904 323776
Fax: (0)1904 323759
Web page: http://www.york.ac.uk/economics/
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Happiness; Well-being; Attention; Focusing illusion; Unemployment;
Other versions of this item:
- Paul Dolan & Nattavudh Powdthavee, 2012. "Thinking about it: a note on attention and well-being losses from unemployment," Applied Economics Letters, Taylor & Francis Journals, vol. 19(4), pages 325-328, March.
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-07-20 (All new papers)
- NEP-HAP-2008-07-20 (Economics of Happiness)
- NEP-HPE-2008-07-20 (History & Philosophy of Economics)
- NEP-LAB-2008-07-20 (Labour Economics)
- NEP-LTV-2008-07-20 (Unemployment, Inequality & Poverty)
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- Beja, Edsel Jr., 2013. "Focusing on the Focusing Illusion..," MPRA Paper 44366, University Library of Munich, Germany.
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