« Forthcoming book: 'Macroeconomics' by Carlin & Soskice | Main | If trade liberalisation fails »

Monday, October 31, 2005

Comments

mitch

the main claim of the 'happiness' literature is that over many countries and many decades there is diminishing marginal reported happiness with respect to income (once you get past a certain threshold of income).

what oswald does in this piece is to swap out the measurable entity of 'reported happiness' and insert the abstract entity of 'utility'. he then reasonably claims that reported happiness is an imperfect proxy for 'utility'. i suggest further that 'utility' is a perfectly useless abstraction.

oswald claims psychological / survey design factors may be responsible for the apparent diminishing marginal reported happiness with increasing income. he points out correctly that the shape of the 'utility' vs reported happiness function remains unknown. yes, unmeasurable and unknown.

next, he explores the social science literature to see if the methodological issues he raises are well-researched problems in the social science literature and finds that in fact.....sorry i made this bit up.

rather than exploring the broader social science literature, oswald is content to take his place in a long line of economists warning against the perils of using subjective data.

my take is that the 'happiness' literature is interesting and of genuine relevance to policymakers and the general public alike. moreover, it reverses the trend of economic imperialism insofar as it involves social science methodologies being applied to problems traditionally considered the turf of economists.

if economists like oswald prefer to continue to deal in irrelevant generalities they will simply diminish in relevance over time.

dearieme

Why on earth would you base any serious policy action on what people write in answer to questions about their opinions? What you need are experiments that answer the key questions.

travesti

istanbul hotel enemy artic thanks This article is very beautiful, I really get very beyendım text files manually to your health as you travesti very beautiful and I wish you continued success with all respect ..

Thanks for helpful information travesti siteleri you catch up us with your sagol instructional çok explanation.
en iyi travestiler en guzel travesti

travesti
travesti forum
istanbul travestileri
ankara travestileri
izmir travestileri
bursa travestileri
travestiler
trv
travesti siteleri
travesti video
travesti
travesti
travesti
travestiler
travesti
travestiler
sohbet
travesti
chat
organik
güncel blog
sohbet
turkce mirc

The comments to this entry are closed.

Information




  • TEST


  • Subscribe in NewsGator Online

Economist Weblogs

Categories

Disclaimer


  • This is a personal web site, produced in my own time and solely reflecting my personal opinions. Statements on this site do not represent the views or policies of my employer, past or present, or any other organisation with which I may be affiliated. The information on this site is provided for discussion purposes only, and are not investing recommendations. Under no circumstances does this information represent a recommendation to buy or sell securities.