Research report 2010 - Max Planck Institute of Economics (1993 until 2014)

The economics of happiness

Binder, Martin; Coad, Alex
Evolutionsökonomik (Witt)
Max-Planck-Institut für Ökonomik, Jena
Inspired by research in biology and psychology, the central economic concept of “utility” has received a hedonistic interpretation with the advent of happiness research. An individual’s happiness (subjective well-being) is influenced by a complex web of determinants such as income, (un)employment, health and social factors. But in turn, happiness also influences all these factors, with happier individuals more successful in all domains.

For the full text, see the German version.

Go to Editor View