Public policy implications of behavioral economics and happiness studies

Happiness and Public Policy: Theory, Case Studies and Implications

Volumn , Issue , 2006, Pages 237-252

  Ng, Yew Kwang ^a  

^a Academy of Social Sciences   (Australia)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 85008467352     PISSN: None     EISSN: None     Source Type: Book    
DOI: 10.1057/9780230288027     Document Type: Chapter

References (63)

1. Akerlof, George A. (2002) "Behavioral macroeconomics and macroeconomic behavior", American Economic Review, 92(3): 411-33.
2. Berg, Nathan (2003) "Normative behavioral economics", Journal of Socio-Economics, 32: 411-27.
3. Bertrand, Marianne & Mullainathan, Sendhil (2001) "Do people mean what they say? Implications for subjective survey data", American Economic Review, 91(2): 67-72.
4. Brennan, Geoffrey and Pettit, Philip (2004). The Economy of Esteem: An Essay on Civil and Political Society. Oxford and New York: Oxford University Press.
5. Costa, Paul T. & McCrae, Robert R. (1988) "Personality in adulthood: A six-year longitudinal study of self-reports and spouse ratings on the NEO personality inventory", Journal of Personality and Social Psychology, 54(5): 853-63.
6. Day, Richard H. (2004) "Behavioral economics: implications for economic theory and policy", Journal of Socio-Economics, 33: 715-24.
7. Diener, Ed, (1984) "Subjective well-being", Psychological Bulletin, 95: 542-75.
8. Diener, Ed, Sandvik E., Seidlitz L. & Diener, M. (1993) "The relationship between income and subjective well-being: relative or absolute?", Social Indicators Research, 28: 195-223.
9. Dominitz, Jeff and Manski, Charles F. (1999) "The several cultures of research on subjective expectations", in James P. Smith and Robert J. Willis (eds), Wealth, Work, and Health: Innovations in Measurement in the Social Sciences. University of Michigan Press, 1999, pp. 15-33.
10. Duesenberry, James S. (1949) Income, Saving and the Theory of Consumer Behavior. Cambridge, MA: Harvard University Press.
11. Easterly, William (1999) "Life during growth", World Bank Working Paper.Available on web page: http://www.worldbank.org/html/prdmg/grthweb/growth_t.htm
12. Fordyce, M. (1988) "A review of research on happiness measures: a sixty second index of happiness and mental health", Social Indicators Research, 20: 355-81.
13. Frank, Robert H. (1999) Luxury Fever: Why Money Fails to Satisfy in an Era of Excess. New York: The Free Press.
14. Frank, Robert H. (2004) What Price the Moral High Ground? Ethical Dilemmas in Competitive Environments. Princeton and Oxford: Princeton University Press.
15. Frey, Bruno S. & Stutzer, Alois (2002) "What can economists learn from happiness research?", Journal of Economic Literature, 40(2): 402-35.
16. Genesove, David & Mayer, Christopher (2001) "Loss aversion and seller behavior: evidence from the housing market", Quarterly Journal of Economics, 116(4): 1233-60.
17. Graham, Carol, Eggers, Andrew & Sukhtankar, Sandip (2004) "Does happiness pay? An exploration based on panel data from Russia", Journal of Economic Behavior and Organization, 55(3): 319-42.
18. Graham, Carol & Pettinato, Stefano (2001) "Happiness, markets, and democracy: Latin America in comparative perspective", Journal of Happiness Studies, 2: 237-68.
19. Graham, Carol & Pettinato, Stefano (2002) "Frustrated achievers: Winners, losers, and subjective well-being in new market economies", Journal of Development Studies, 38(4): 100-40.
20. Hagerty, Michael R. & Veenhoven, Ruut (2003) "Wealth and happiness revisited: Growing national income does go with greater happiness", Social Indicators Research, 64(1): 1-28.
21. Harrod, Roy F. (1948) Towards a Dynamic Economics. London: Macmillan.
22. Kahneman, Daniel, Diener, Ed, & Schwarz, Norbert (eds) (1999) Well-Being: The Foundations of Hedonic Psychology. New York: Russell Sage Foundation.
23. Kahneman, Daniel, Knetsch, D., & Thaler, R. (1991) "The endowment effect, loss aversion, and status quo bias", Journal of Economic Perspectives, 5: 193-206.
24. Kaplow, Louis (1996) "The optimal supply of public goods and the distortionary cost of taxation", National Tax Journal, 49(4): 513-33.
25. Kenny, Charles (1999) "Does growth cause happiness, or does happiness cause growth?", Kyklos, 52: 3-26.
26. Keynes, John Maynard (1936). The General Theory of Employment, Interest and Money. New York: Macmillan.
27. Laibson, David I., Repetto, A. and Tobacman, J. (1998) "Self-control and saving for retirement", Brookings Papers on Economic Activity, 1: 91-172.
28. Loewenstein, George & Elster, Jon (eds) (1992) Choice Over Time. New York, NY: Russell Sage Foundation.
29. Lye, J. and I.M. McDonald (2004) "The Effectiveness of Incomes Policies, Enterprise Bargaining and Inflation Targetting in Australia", Australian Economic Papers, 43(1): 21-38.
30. McDonald, I.M. (1990) "The Setting of Retail Prices in a Customer Market", Economic Record, 66(195): 322-8.
31. Manski, Charles F. (2000) "Economic analysis of social interactions", Journal of Economic Perspectives, 14(3): 115-36.
32. Namazie, Ceema & Sanfey, Peter (2001) "Happiness and transition: The case of Kyrgyzstan", Review of Development Economics, 5(3): 392-405.
33. Ng, Yew-Kwang (1977) "Aggregate Demand, Business Expectation, and Economic Recovery without Aggravating Inflation", Australian Economic Papers, 16(28): 130-40.
34. Ng, Yew-Kwang (1980) "Macroeconomics with Non-Perfect Competition", Economic Journal, 90(359): 598-610.
35. Ng, Yew-Kwang (1986). Mesoeconomics: A Micro-Macro Analysis. London: Harvester.
36. Ng, Yew-Kwang (1987) "Relative-income effects and the appropriate level of public expenditure", Oxford Economic Papers, 39(2): 293-300.
37. Ng, Yew-Kwang (1992) "Business Confidence and Depression Prevention: A Mesoeconomic Perspective", American Economic Review, 82(2): 365-71.
38. Ng, Yew-Kwang (1996) "Happiness Surveys: Some Comparability Issues and an Exploratory Survey Based on just Perceivable Increments", Social Indicators Research, 38(1): 1-29.
39. Ng, Yew-Kwang (1998) Non-Neutrality of Money under Non-Perfect Competition: Why Do Economists Fail to See the Possibility? In: Arrow, K.J., Y.K Ng and X. Yang (eds), Increasing Return and Economic Analysis. London: Macmillan, pp. 232-52.
40. Ng, Yew-Kwang (1999) "Utility, informed preference, or happiness?" Social Choice and Welfare, 16(2): 197-216.
41. Ng, Yew-Kwang (2000a) Efficiency, Equality, and Public Policy: With a Case for Higher Public Spending. Basingstoke, Hampshire: Macmillan.
42. Ng, Yew-Kwang (2000b) "The optimal size of public spending and the distortionary costs of taxation", National Tax J, 52(2): 253-72.
43. Ng, Yew-Kwang (2003a) "Orthodox economics and economists: Strengths and weaknesses", Singapore Economic Review, 48(1): 81-94.
44. Ng, Yew-Kwang (2003b) "From preference to happiness: Towards a more complete welfare economics", Social Choice and Welfare, 20: 307-50.
45. Ng, Yew-Kwang (2005) "Policy Implications of Behavioural Economics: With Special Reference to the Optimal Level of Public Spending", Australian Economic Review, 38(3): 298-306.
46. Ng, Yew-Kwang and Y. Wu (2004) "Multiple Equilibria and Interfirm Macro-Externality: An Analysis of Sluggish Real Adjustment", Annals of Economics and Finance, 5(1): 61-77.
47. O'Donoghue, Ted and Rabin, Matthew (2001) "Choice and procrastination", Quarterly Journal of Economics, 116(1): 121-60.
48. Pigou, Arthur C. (1912/1929/1932) Wealth and Welfare. Later editions (1920, 1924, 1929, 1932) assume the title The Economics of Welfare. London: Macmillan.
49. Rabin, Matthew (1993) "Incorporating fairness into game theory and economics", American Economic Review, 83(5): 1281-302.
50. Rae, John (1834) New Principles of Political Economy. Reprinted as The Sociological Theory of Capital (ed.) C.W. Mixter(1990). New York: Macmillan.
51. Ramsey, F.P. (1928) "A mathematical theory of saving", Economics Journal, 38: 543-59. Reprinted in Readings in Welfare Economics, (eds) Arrow & Scitovsky (1969). London: Allen & Unwin.
52. Sandvik, Ed, Diener, Ed & Seidlitz, Larry (1993) "Subjective well-being: The convergence and stability of self-report and non-self report measures", Journal of Personality, 61(3): 317-42.
53. Schwarz, Norbert & Strack, Fritz (1999) "Reports of subjective well-being: Judgmental processes and their methodological implications", in Kahneman et al., Well-being: The Foundations of Hedonic Psychology. New York: Russell Sage Foundation, pp. 61-84.
54. Seidlitz, Larry, Wyer, Robert S., Jr., and Diener, Ed (1997) "Cognitive correlates of subjective well-being: the processing of valenced life events by happy and unhappy persons", Journal of Research in Personality, 31(2): 240-56.
55. Shedler, J., Mayman, M. and Manis, M. (1993) "The illusion of mental health", American Psychologist, 48(11): 1117-31.
56. Shiller, Robert J. (1981) "Do stock prices move too much to be justified by subsequent changes in dividends?" American Economic Review, 71(3): 421-36.
57. Simon, Herbert (1997) "Satisficing", in Models of bounded rationality, Volume 3: Empirically grounded economic reason. Cambridge and London: MIT Press, pp. 295-98.
58. Smith, James P. and Willis, Robert J. (eds) (1999). Wealth, Work, and Health: Innovations in Measurement in the Social Sciences: Essays in Honor of F. Thomas Juster. Ann Arbor: University of Michigan Press.
59. Summers, Lawrence H. (1986) "Does the stock market rationally reflect fundamental values?" Journal of Finance, 41(3): 591-601.
60. Sutton, S. and Davidson, R. (1997) "Prefrontal brain symmetry: a biological substrate of the behavioral approach and inhibition systems", Psychological Science, 8(3): 204-10.
61. Thaler, Richard H. & Benartzi, Shlomo (2004) "Save more tomorrow: Using behavioral economics to increase employee saving", Journal of Political Economy, Part 2 Supplement, 112(1): S164-87.
62. Veblen, Theodor (1899) The Theory of the Leisure Class. New York: Macmillan.
63. Wilkinson, Richard G. (1997) "Health inequalities: Relative or absolute material standards?" British Medical Journal, 314: 591-95.