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Ordinaries

Author

Listed:
  • Terence C. Burnham

    (Chapman University)

  • Jay Phelan

    (UCLA)

Abstract

Neoclassical and behavioral economics agree that people seek happiness, but diverge in their views of the source. Neoclassical economics assumes permanent happiness derives from objective, positive outcomes including, importantly, having financial resources. Behavioral economics argues that happiness comes from outcomes that are better than subjective reference points. Evolutionary biology understands, in great detail, both the proximate and ultimate causes of human happiness. Accordingly, evolutionary biology holds the key to a synthesis of divergent economic theories of happiness.

Suggested Citation

  • Terence C. Burnham & Jay Phelan, 2020. "Ordinaries," Journal of Bioeconomics, Springer, vol. 22(2), pages 63-76, July.
    • Handle: RePEc:kap:jbioec:v:22:y:2020:i:2:d:10.1007_s10818-020-09299-0
    DOI: 10.1007/s10818-020-09299-0
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    References listed on IDEAS

    as
    1. Jeremiah Y. Cohen & Sebastian Haesler & Linh Vong & Bradford B. Lowell & Naoshige Uchida, 2012. "Neuron-type-specific signals for reward and punishment in the ventral tegmental area," Nature, Nature, vol. 482(7383), pages 85-88, February.
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