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On the curvature of the reporting function from objective reality to subjective feelings

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Listed:
  • Oswald, Andrew J.

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.

Suggested Citation

  • 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.
  • Handle: RePEc:eee:ecolet:v:100:y:2008:i:3:p:369-372
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    References listed on IDEAS

    as
    1. Oswald, Andrew J, 1997. "Happiness and Economic Performance," Economic Journal, Royal Economic Society, vol. 107(445), pages 1815-1831, November.
    2. Alan B. Krueger & David A. Schkade, 2007. "The Reliability of Subjective Well-Being Measures," Working Papers 516, Princeton University, Department of Economics, Industrial Relations Section..
    3. Krueger, Alan B. & Schkade, David A., 2008. "The reliability of subjective well-being measures," Journal of Public Economics, Elsevier, vol. 92(8-9), pages 1833-1845, August.
    4. Oswald, Andrew J. & Powdthavee, Nattavudh, 2008. "Does happiness adapt? A longitudinal study of disability with implications for economists and judges," Journal of Public Economics, Elsevier, vol. 92(5-6), pages 1061-1077, June.
    5. Nattavudh Powdthavee, 2005. "Unhappiness and Crime: Evidence from South Africa," Economica, London School of Economics and Political Science, vol. 72(3), pages 531-547, August.
    6. Di Tella, Rafael & Haisken-De New, John & MacCulloch, Robert, 2010. "Happiness adaptation to income and to status in an individual panel," Journal of Economic Behavior & Organization, Elsevier, vol. 76(3), pages 834-852, December.
    7. M. Sirgy & Alex Michalos & Abbott Ferriss & Richard Easterlin & Donald Patrick & William Pavot, 2006. "The Qualityity-of-Life (QOL) Research Movement: Past, Present, and Future," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 76(3), pages 343-466, May.
    8. Layard, R. & Mayraz, G. & Nickell, S., 2008. "The marginal utility of income," Journal of Public Economics, Elsevier, vol. 92(8-9), pages 1846-1857, August.
    9. JOHN HOROWITZ & J. LIST & K. E. McCONNELL, 2007. "A Test of Diminishing Marginal Value," Economica, London School of Economics and Political Science, vol. 74(296), pages 650-663, November.
    10. Easterlin, Richard A., 1995. "Will raising the incomes of all increase the happiness of all?," Journal of Economic Behavior & Organization, Elsevier, vol. 27(1), pages 35-47, June.
    11. Richard Easterlin, 2005. "Diminishing Marginal Utility of Income? Caveat Emptor," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 70(3), pages 243-255, February.
    12. Nicoletti, Giuseppe & Pryor, Frederic L., 2006. "Subjective and objective measures of governmental regulations in OECD nations," Journal of Economic Behavior & Organization, Elsevier, vol. 59(3), pages 433-449, March.
    13. Oswald, Andrew J., 2005. "On the Common Claim that Happiness Equations Demonstrate Diminishing Marginal Utility of Income," IZA Discussion Papers 1781, Institute for the Study of Labor (IZA).
    14. repec:pri:cepsud:138krueger is not listed on IDEAS
    15. Winkelmann, Liliana & Winkelmann, Rainer, 1998. "Why Are the Unemployed So Unhappy? Evidence from Panel Data," Economica, London School of Economics and Political Science, vol. 65(257), pages 1-15, February.
    16. repec:feb:framed:0072 is not listed on IDEAS
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    More about this item

    JEL classification:

    • I3 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty
    • D1 - Microeconomics - - Household Behavior

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