New Economics Papers
on Neuroeconomics
Issue of 2010‒02‒27
two papers chosen by



  1. Genes, economics, and happiness By Jan-Emmanuel De Neve; James H. Fowler; Bruno S. Frey
  2. The Complexity Era in Economics By David Colander; Richard P.F. Holt; J. Barkley Rosser

  1. By: Jan-Emmanuel De Neve; James H. Fowler; Bruno S. Frey
    Abstract: Research on happiness has produced valuable insights into the sources of subjective well-being. A major finding from this literature is that people exhibit a 'baseline' happiness that shows persistent strength over time, and twin studies have shown that genes play a significant role in explaining the variance of baseline happiness between individuals. However, these studies have not identified which genes might be involved. This article presents evidence of a specific gene that predicts subjective well-being. Using data from the National Longitudinal Study of Adolescent Health, we show that individuals with a transcriptionally more efficient version of the serotonin transporter gene (5HTT) are significantly more likely to report higher levels of life satisfaction. Having one or two alleles of the more efficient type raises the average likelihood of being very satisfied with one's life by 8.5% and 17.3%, respectively. This result may help to explain the stable component of happiness and suggests that genetic association studies can help us to better understand individual heterogeneity in subjective well- being.
    Keywords: Happiness, subjective well-being, genetics
    JEL: A12 Z00
    Date: 2010–02
    URL: http://d.repec.org/n?u=RePEc:zur:iewwpx:475&r=neu
  2. By: David Colander; Richard P.F. Holt; J. Barkley Rosser
    Abstract: This article argues that the neoclassical era in economics has ended and is being replaced by a new era. What best characterizes the new era is its acceptance that the economy is complex, and thus that it might be called the complexity era. The complexity era has not arrived through a revolution. Instead, it has evolved out of the many strains of neoclassical work, along with work done by less orthodox mainstream and heterodox economists. It is only in its beginning stages. The article discusses the work that is forming the foundation of the complexity era, and how that work will likely change the way in which we understand economic phenomena and the economics profession.
    Date: 2010–01
    URL: http://d.repec.org/n?u=RePEc:mdl:mdlpap:1001&r=neu

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