Work less, live more? The impact of an introduction of the Four-Day Working Week on happiness in the context of the Icelandic Four-Day Working Week experiment

In our current age, the quest for a better work-life balance is becoming paramount to increasing numbers of people. The concept of the Four-Day Working Week (FDWW) therefore emerges as a potential solution, promising to revolutionise our traditional understanding of worktime and well-being. By focusing on the world's largest FDWW trial at the time, Iceland's FDWW experiment from 2015 to 2019, and using data from the European Social Survey, the FDWW's impact on happiness is critically examined. Ordinary Least Squares regressions are employed to analyse the association of working hours with happiness amongst Icelandic workers and to conduct an evidence-based policy evaluation. Contrary to widespread expectations and existing media narratives, the findings reveal no significant impact of working hours on employees' happiness scores. This outcome challenges the conventional wisdom that less work leads directly to more happiness. The findings thereby contribute significantly to debates on the future of work, suggesting that the FDWW should be viewed with caution until more conclusive evidence is available. This absence of definitive proof calls into question the notion of the FDWW as a universally effective solution to the economic and social challenges faced by contemporary society.