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Titel
Subjective well-being and public policy / Reto Odermatt (University of Basel and CEP (LSE)), Alois Stutzer (University of Basel and IZA) ; IZA Institute of Labor Economics
VerfasserOdermatt, Reto In der Gemeinsamen Normdatei der DNB nachschlagen ; Stutzer, Alois In der Gemeinsamen Normdatei der DNB nachschlagen
KörperschaftForschungsinstitut zur Zukunft der Arbeit In der Gemeinsamen Normdatei der DNB nachschlagen
ErschienenBonn, Germany : IZA Institute of Labor Economics, October 2017
Ausgabe
Elektronische Ressource
Umfang1 Online-Ressource (25 Seiten)
SerieDiscussion paper ; no. 11102
URNurn:nbn:de:hbz:5:2-141945 Persistent Identifier (URN)
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Subjective well-being and public policy [0.36 mb]
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Zusammenfassung

Measures of subjective well-being have gained substantial attention in economics as quantitative approximations of individual welfare. They allow researchers to study relevant determinants of welfare on an individual as well as on a societal level. These determinants might not to be easily detectable in observable behavior. By referring to the recent wellbeing literature, we provide a selection of determinants of well-being that are important for public policy and show how the analysis of subjective well-being is applied as a complementary analytical tool for policy evaluation. We highlight the use of these measures for guiding public policy in areas that might involve suboptimal behavior. We also discuss some challenges for future research that are associated with the choice of evaluation metrics, the role of aspiration and adaption in evaluations, and utility misprediction.