Happiness, Equivalent Incomes and Respect for Individual Preferences
Bibliographic Data
| ID | 9725539 |
|---|---|
| Authors | Koen Decancq (0000-0002-5822-845X, University of Antwerp, CES and CORE), Marc Fleurbaey (0000-0002-5342-8065, Princeton University), Erik Schokkaert (Katholieke Universiteit Leuven and CORE), Yukiko Asada (0000-0003-0981-3449, KU Leuven) |
| Year | 2015 |
| Volume | 82 |
| Issue | s1 |
| Pages | 1082-1106 |
| Publication date | 2015-12-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Economica (JOURNAL) |
| Journal identifiers | ISSN: 0013-0427 • E-ISSN: 1468-0335 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/ecca.12152 |
| OpenAlex | W2126195258 |
| Language | EN |
| Citations received | 35 |
| References cited | 74 |
In this paper, we study interpersonal comparisons of wellbeing. We show that using subjective wellbeing (SWB) levels can be in conflict with individuals' judgments about their own lives. We propose therefore an alternative wellbeing measure in terms of equivalent incomes that respects individual preferences. We show how SWB surveys can be used to derive the ordinal information about preferences needed to calculate equivalent incomes. We illustrate our approach with Russian panel data (RLMS‐HSE) for the period 1995–2003 and compare it to standard wellbeing measures such as expenditures and SWB. We find that different groups are identified as worst off. For nothing is more certain, than that despair has almost the same effect on us with enjoyment, and that we are no sooner acquainted with the impossibility of satisfying any desire, than the desire itself vanishes. David Hume, A Treatise of Human Nature
Econometrics · Economics · Epistemology · Happiness · Impossibility · Interpersonal communication · Nothing · Political science · Subjective well-being · Decision-Making and Behavioral Economics · Income, Poverty, and Inequality · Law · Psychological Well-being and Life Satisfaction · Psychology · Social Psychology
National well-being policy and a weighted approach to human feelings
Pandemic Shocks and Household Spending
What Matters Most to People? Evidence from the OECD Better Life Index Users’ Responses
Le problème du choix social est-il résolu
Measuring Successful Aging With Respect for Preferences of Older Persons
What do Happiness Data Mean? Theory and Survey Evidence
Well‐being during the Great Recession
What Do Happiness Data Mean? Theory and Survey Evidence
Global lifespan and welfare inequality over the last five decades from a prioritarian perspective
Fairness in Cost-Benefit Analysis
Experimenting with a strong dual necessity approach to social progress
Imprecision in the Estimation of Willingness to Pay Using Subjective Well-Being Data
Which choices merit deference? A comparison of three behavioural proxies of subjective welfare
Identifying the distribution of welfare from discrete choice
‘Fair’ welfare comparisons with heterogeneous tastes
Multidimensional fairness with respect for individual preferences
The Strong 'Dual-Necessity’ principle for ranking social progress
Self-reported wellbeing indicators are a valuable complement to traditional economic indicators but are not yet ready to compete with them
Putting measures of individual well-being to use for ex-ante policy evaluation
Welfare analysis and redistributive policies
Multidimensional poverty measurement with individual preferences
Global income poverty measurement with preference heterogeneity
Can Subjective Data Improve the Measurement of Inequality? A Multidimensional Index of Economic Inequality
Beyond GDP
Trade-Offs in a Multidimensional Human Development Index
Job Satisfaction in the “Big Four” of Europe
The Cambridge Handbook of the Capability Approach
Interpersonal comparisons of well-being
Les contributions de Marc Fleurbaey à l’économie et à la philosophie
Wellbeing Inequality and Preference Heterogeneity
Measuring Well-being
Uneven dynamics and regional disparity of multidimensional poverty in China
Beyond Wage Gap, Towards Job Quality Gap
Measuring and Monitoring Poverty and Well-Being
The Influence of Preference Information on Equivalent Income
A Theory of Fairness and Social Welfare
Happiness Around the World
The Politics of Happiness
What Do You Think Would Make You Happier? What Do You Think You Would Choose?
Social unity and primary goods
Stress that Doesn't Pay
Self-rated economic welfare in Russia
Adaptation and scale of reference bias in self-assessments of quality of life
The marginal utility of income
When information dominates comparison
A simple statistical method for measuring how life events affect happiness
Does Living in California Make People Happy? A Focusing Illusion in Judgments of Life Satisfaction
Would You Be Happier If You Were Richer? A Focusing Illusion
Happiness adaptation to income and to status in an individual panel
Experienced Utility as a Standard of Policy Evaluation
Back to Bentham? Explorations of Experienced Utility
Analysis of Covariance with Qualitative Data
Valuing flood disasters using the life satisfaction approach
Toward National Well-Being Accounts
Unemployment as a Social Norm
Well-being over time in Britain and the USA
What Can Economists Learn from Happiness Research?
Will raising the incomes of all increase the happiness of all?
Commodities and capabilities
The Origins of Happiness
Social Choice and Individual Values
Capabilities and Satisfaction with Life
Beyond GDP
Beyond GDP
Implications of happiness research for environmental economics
Any Non‐welfarist Method of Policy Assessment Violates the Pareto Principle
Using Happiness Surveys to Value Intangibles
Identifying Welfare Effects from Subjective Questions
Inequality of Wellbeing
Happiness and Economic Performance
How Important is Methodology for the Estimates of the Determinants of Happiness
Interpretations of Utility and Their Implications for the Valuation of Health
A circumplex model of affect
Relative Income, Happiness, and Utility
Women and Human Development
Some Uses of Happiness Data in Economics
Subjective well-being
Income, Health, and Well-Being around the World
Anomalies
Happy by What Standard? The Role of Interpersonal and Intrapersonal Comparisons in Ratings of Happiness
Are One Man's Rags Another Man's Riches? Identifying Adaptive Expectations using Panel Data
Assessing subjective well-being
An Essay on the Nature and Significance of Economic Science
| Unique citing works | 35 |
|---|---|
| Citations per year | 3,18 |
| Citation span | 2015 - 2026 (12) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 31 |