%0 Report
        %A Praag, Bernard M. S. van
        %T Perspectives from the Happiness Literature and the Role of New Instruments for Policy Analysis
        %D 2007
        %8 2007 Jan
        %I Institute of Labor Economics (IZA)
        %C Bonn
        %7 IZA Discussion Paper
        %N 2568
        %U https://www.iza.org/publications/dp2568
        %X 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.
        %K equivalence scales
%K subjective well-being
%K happiness economics
%K economic policy