Yet another working paper:
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3106438
ABSTRACT:
There has recently been an attempt to approach wellbeing using empirical techniques and limited theory. This has yielded an enormous body of literature. This paper will argue that much of this literature is problematic, especially the literature in happiness economics, because the instruments used to measure happiness produce very noisy data that is hard to interpret. These measurement issues are being compounded by the lack of a unified theoretical model of wellbeing shared across the relevant disciplines. The paper sketches such an integrated model of wellbeing. It incorporates hedonic and eudemonic dimensions, drawing on philosophical, psychological and economic literature.
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3106438
ABSTRACT:
There has recently been an attempt to approach wellbeing using empirical techniques and limited theory. This has yielded an enormous body of literature. This paper will argue that much of this literature is problematic, especially the literature in happiness economics, because the instruments used to measure happiness produce very noisy data that is hard to interpret. These measurement issues are being compounded by the lack of a unified theoretical model of wellbeing shared across the relevant disciplines. The paper sketches such an integrated model of wellbeing. It incorporates hedonic and eudemonic dimensions, drawing on philosophical, psychological and economic literature.
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