Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
969487 | Journal of Public Economics | 2008 | 4 Pages |
Abstract
The findings of behavioural economics and happiness research pose serious challenges for public policy analysis. Key findings relate to•externality (people's happiness depends on what others have)•mistakes (which arise from ignorance or misforecasting of happiness), and•tastes (which are not exogenous but affected by public policy).In this special issue the author discusses how to modify the traditional framework to allow for these uncomfortable facts, and how to exploit our new knowledge about how income and other variables affect happiness.
Keywords
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Richard Layard,