TY  - RPRT
        AU  - Praag, Bernard M. S. van
        TI  - Perspectives from the Happiness Literature and the Role of New Instruments for Policy Analysis
        PY  - 2007/Jan/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 2568
        UR  - https://www.iza.org/index.php/publications/dp2568
        AB  - After having been ignored for a long time by economists, happiness is becoming an object of serious research in 21st century economics. In Section 2 we sketch the present status of happiness economics. In Section 3 we consider the practical applicability of happiness economics, retaining the assumption of ordinal individual utilities. In Section 4 we introduce a cardinal utility concept, which seems to us the natural consequence of the happiness economics methodology. In Section 5 we sketch how this approach can lead to a normative approach to policy problems that is admissible from a positivist point of view. Section 6 concludes.
        KW  - equivalence scales
KW  - subjective well-being
KW  - happiness economics
KW  - economic policy
        ER  -