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Happiness as a Driver of Risk-avoiding Behaviour: Theory and an Empirical Study of Seatbelt Wearing and Automobile Accidents

Author

Listed:
  • Robert J. B. Goudie
  • Sach Mukherjee
  • Jan-Emmanuel Neve
  • Andrew J. Oswald
  • Stephen Wu

Abstract

type="main" xml:id="ecca12094-abs-0001"> Governments try to discourage risky health behaviours, yet such behaviours are bewilderingly persistent. We suggest a new conceptual approach to this puzzle. We show that expected utility theory predicts that unhappy people will be attracted to risk-taking. Using US seatbelt data, we document evidence strongly consistent with that prediction. We exploit various methodological approaches, including Bayesian model selection and instrumental variable estimation. Using road accident data, we find strongly corroborative longitudinal evidence. Government policy may thus have to change. It may need to improve the underlying happiness of individuals instead of, or in addition to, its traditional concern with society's risk-taking symptoms.

Suggested Citation

  • Robert J. B. Goudie & Sach Mukherjee & Jan-Emmanuel Neve & Andrew J. Oswald & Stephen Wu, 2014. "Happiness as a Driver of Risk-avoiding Behaviour: Theory and an Empirical Study of Seatbelt Wearing and Automobile Accidents," Economica, London School of Economics and Political Science, vol. 81(324), pages 674-697, October.
    • Handle: RePEc:bla:econom:v:81:y:2014:i:324:p:674-697
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    File URL: http://hdl.handle.net/10.1111/ecca.2014.81.issue-324
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    Citations

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    Cited by:

    1. Armando N. Meier, 2021. "Emotions and Risk Attitudes," SOEPpapers on Multidisciplinary Panel Data Research 1118, DIW Berlin, The German Socio-Economic Panel (SOEP).
    2. Armando N. Meier, 2019. "Emotions, Risk Attitudes, and Patience," SOEPpapers on Multidisciplinary Panel Data Research 1041, DIW Berlin, The German Socio-Economic Panel (SOEP).
    3. Giacomo Degli Antoni & Chiara Franco, 2022. "The effect of technological behaviour and beliefs on subjective well-being: the role of technological infrastructure," Journal of Evolutionary Economics, Springer, vol. 32(2), pages 553-590, April.
    4. Li, Wenchao, 2023. "Gender of children and risky health behaviors: Evidence from China," Economic Modelling, Elsevier, vol. 119(C).
    5. Swee, Eik Leong & Zhan, Haikun & Powdthavee, Nattavudh, 2021. "Do perceptions of economic well-being predict the onset of war and peace?," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 95(C).
    6. Frijters, Paul & Krekel, Christian & Ulker, Aydogan, 2023. "Should bads be inflicted all at once, like Machiavelli said? Evidence from life-satisfaction data," Journal of Economic Behavior & Organization, Elsevier, vol. 205(C), pages 1-27.
    7. Zheng Li & Jingjing Zeng, 2023. "Increasing relative risk taking in a choice context with source-dependent travel time risks," Transportation, Springer, vol. 50(6), pages 2441-2460, December.
    8. Lelkes, Orsolya, 2014. "Boldog-boldogtalan - a közpolitika szerepe [Happiness and unhappiness. The role of public policies]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(12), pages 1381-1396.
    9. Krekel, Christian & Swanke, Sarah & De Neve, Jan-Emmanuel & Fancourt, Daisy, 2020. "Are Happier People More Compliant? Global Evidence From Three Large-Scale Surveys During Covid-19 Lockdowns," IZA Discussion Papers 13690, Institute of Labor Economics (IZA).
    10. Xi Ouyang & Wen’e Qi & Donghui Song & Jianjun Zhou, 2022. "Does Subjective Well-Being Promote Pro-Environmental Behaviors? Evidence from Rural Residents in China," IJERPH, MDPI, vol. 19(10), pages 1-19, May.

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