Happiness, relational goods, and social progress
Abstract
The empirical studies on the determinants of happiness summarized in this chapter present and discuss a vast range of original and well-established acquired data. In the short run the relationship between money and happiness resembles what we described in Chapter 3 with the traditional utility function approach, but over the long run it becomes much more complex due to the phenomena of relative income and hedonic adaptation. The studies on happiness also show the importance of social relations, a factor often overlooked in the models. These studies represent an important novelty for their multidisciplinary perspective and for their ability to challenge and broaden the ...
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