On the curvature of the reporting function from objective reality to subjective feelings
Oswald, Andrew J. (2008) On the curvature of the reporting function from objective reality to subjective feelings. Working Paper. Coventry: University of Warwick, Department of Economics. Warwick economic research papers (No.839).
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Official URL: http://www2.warwick.ac.uk/fac/soc/economics/resear...
I suggest the idea of a reporting function, r(.), from reality to feelings. The ‘happiness’ literature claims we have demonstrated diminishing marginal utility of income. I show not, and that knowing r(.)’s curvature is crucial. A quasi-experiment on heights is studied.
|Item Type:||Working or Discussion Paper (Working Paper)|
|Subjects:||H Social Sciences > HB Economic Theory|
|Divisions:||Faculty of Social Sciences > Economics|
|Library of Congress Subject Headings (LCSH):||Welfare economics, Home economics -- Accounting, Marginal utility, Happiness|
|Series Name:||Warwick economic research papers|
|Publisher:||University of Warwick, Department of Economics|
|Place of Publication:||Coventry|
|Official Date:||8 February 2008|
|Number of Pages:||14|
|Institution:||University of Warwick|
|Status:||Not Peer Reviewed|
|Access rights to Published version:||Open Access|
Birnbaum, M. H., 1994, Psychophysics, in: V. S. Ramachandran ed. Encyclopedia of Human Behavior (Academic Press, London), 3 , 641-650.
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