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on Neuroeconomics |
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Issue of 2010‒01‒16
three papers chosen by |
| By: | Bjornskov, Christian; Dreher, Axel; Fischer, Justina AV; Schnellenbach, Jan |
| Abstract: | In this paper, we revisit the association between happiness and inequality. We argue that the perceived fairness of the income generation process affects this association. Building on a two-period model of individual life-time utility maximization, we predict that persons with higher perceived fairness will experience higher levels of life-time utility and are less in favor of income redistribution. In societies with a high level of actual social mobility, income inequality is perceived more positively with increased expected fairness. The opposite is expected for countries with low actual social mobility, due to an increasing relevance of a disappointment effect resulting from unsuccessful individual investments. Using the World Values Survey data and a broad set of fairness measures, we find strong support for the negative (positive) association between fairness perceptions and the demand for more equal incomes (subjective well-being). We also find strong empirical support for the disappointment effect in low social mobility countries. In contrast, the results for high-mobility countries turn out to be ambiguous. |
| Keywords: | Happiness; life satisfaction; subjective well-being; inequality; income distribution; redistribution; political ideology; justice; fairness; World Values Survey |
| JEL: | D31 H40 J62 I31 Z13 |
| Date: | 2009–12–21 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:19502&r=neu |
| By: | Oswald, Andrew J. (University of Warwick); Proto, Eugenio (University of Warwick); Sgroi, Daniel (University of Warwick) |
| Abstract: | The paper provides evidence that happiness raises productivity. In Experiment 1, a randomized trial is designed. Some subjects have their happiness levels increased, while those in a control group do not. Treated subjects have 12% greater productivity in a paid piece-rate Niederle-Vesterlund task. They alter output but not the per-piece quality of their work. To check the robustness and lasting nature of this kind of effect, a complementary Experiment 2 is designed. In this, major real-world unhappiness shocks – bereavement and family illness – are studied. The findings from (real-life) Experiment 2 match those from (random-assignment) Experiment 1. |
| Keywords: | labor productivity, emotions, well-being, happiness, positive affect, experimental economics |
| JEL: | J24 C91 |
| Date: | 2009–12 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp4645&r=neu |
| By: | Piyush Kumar Sinha;Gopi Krishnaswamy |
| Abstract: | Increasingly shopping behaviour is being seen from the holistic perspective of the entire shopping experience. The experiential view of shopping takes a far more holistic approach to the consumption process, right from involvement to post purchase usage. The decision making process and value perceptions could vary depending on individual shopping orientations, the cultural orientations as well as the economic and competitive environment in which the consumer shops (Woodruffe, Eccles and Elliott, 2002). This study will attempt to understand the impact of the major factors on the purchase behaviour of shoppers by examining purchase paths across different product categories signifying different shopping orientations; across culturally distinct regions; and across different stages of retail evolution. |
| Date: | 2009–11–26 |
| URL: | http://d.repec.org/n?u=RePEc:iim:iimawp:2009-11-05&r=neu |