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Bias in the relative assessment of happiness, political stance, height and weight

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Proto, Eugenio and Sgroi, Daniel (2010) Bias in the relative assessment of happiness, political stance, height and weight. Working Paper. University of Warwick. Dept. of Economics, Coventry.

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Abstract

Cognitive biases have been a recognised feature of research into human behaviour since at least Kahneman and Tversky’s ground-breaking work of the 1970s. We find that such biases extend into the realm of perceptions about relative happiness and we compare and contrast this phenomenon across three other characteristics: height, weight and political stance. Our findings indicate a powerful and consistent bias in the way individuals perceive their place in the population distribution. In particular, those at extremes perceive a population distribution that is incorrectly and heavily biased towards themselves, irrespective of whether the characteristic is objective and easily observed or not.

Item Type: Working or Discussion Paper (Working Paper)
Subjects: H Social Sciences > H Social Sciences (General)
Divisions: Faculty of Social Sciences > Economics
Library of Congress Subject Headings (LCSH): Social sciences -- Research, Psychological tests, Happiness -- Testing, Body image -- Testing
Series Name: Warwick economics research paper series (TWERPS)
Publisher: University of Warwick. Dept. of Economics
Place of Publication: Coventry
Date: 2010
Volume: Vol.2010
Number: No.943
Status: Not Peer Reviewed
Access rights to Published version: Open Access
Funder: Leverhulme Trust (LT)
References: Benabou, R and Tirole, J. Self‐confidence and personal motivation. Quarterly Journal of Economics 117, 871‐915, 2002. Di Tella, R, MacCulloch, RJ and Oswald, AJ. Preferences over inflation and unemployment: Evidence from surveys of happiness. American Economic Review, 91, 335‐341, 2001. Easterlin, RA, Income and happiness: Towards a unified theory. Economic Journal 111, 465‐484, 2001. Krueger, AB and Schkade, DA. The reliability of subjective well‐being measures. Journal of Public Economics 92, 1833‐1845, 2008. Tversky, A and Kahneman, D. Judgment under uncertainty: Heuristics and biases. Science, 185, 1124‐1131, 1974. Lindbeck, A and Weibull, J. Balanced‐Budget Redistribution as the Outcome of Political Competition. Public Choice 52, 273‐297, 1987 Layard, R. Happiness and public economics: Introduction. Journal of Public Economics 92, 1773‐ 1776, 2008 Lucas, RE, Dyrenforth, PE and Diener, E. Four myths about subjective well‐being. Social and Personality Psychology Compass 2, 2001‐2015, 2008. Oswald, A. On the curvature of the reporting function from objective reality to subjective feelings. Economics Letters 100, 369‐372, 2008.
URI: http://wrap.warwick.ac.uk/id/eprint/3508

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