1. Regardless of economic status, for Americans, what is the most major worry? Would you agree? If not, in your opinion, what would that be? 

Ans: 

 

2.Explain habit formation and puzzle of adaptation and its effect on happiness-income relationship?

3.According to Catril approach, the considerations affecting personal happiness in different countries are quite similar. What are the top two considerations?

4.What is Day Reconstruction Methods and according to this method, what time of the day an average person least tired?

5. Are there any measurement problems with happiness data?

 

 

use the articles below to answer question please cite page numbers

Articles 1

Richard A. Easterlin,
Will raising the incomes of all increase the happiness of all?,
Journal of Economic Behavior & Organization,
Volume 27, Issue 1,
1995,
Pages 35-47,
ISSN 0167-2681,
https://doi.org/10.1016/0167-2681(95)00003-B.
(https://www.sciencedirect.com/science/article/pii/016726819500003B)
Abstract: Today, as in the past, within a country at a given time those with higher incomes are, on average, happier. However, raising the incomes of all does not increase the happiness of all. This is because the material norms on which judgments of well-being are based increase in the same proportion as the actual income of the society. These conclusions are suggested by data on reported happiness, material norms, and income collected in surveys in a number of countries over the past half century.
Keywords: Happiness; Welfare; Aspirations

 

Article 2 

RICHARD A. EASTERLIN,
Does Economic Growth Improve the Human Lot? Some Empirical Evidence,
Editor(s): PAUL A. DAVID, MELVIN W. REDER,
Nations and Households in Economic Growth,
Academic Press,
1974,
Pages 89-125,
ISBN 9780122050503,
https://doi.org/10.1016/B978-0-12-205050-3.50008-7.
(https://www.sciencedirect.com/science/article/pii/B9780122050503500087)
Abstract: Publisher Summary
This chapter discusses the association of income and happiness. The basic data consist of statements by individuals on their subjective happiness, as reported in thirty surveys from 1946 through 1970, covering nineteen countries, including eleven in Asia, Africa, and Latin America. Within countries, there is a noticeable positive association between income and happiness—in every single survey, those in the highest status group were happier, on the average, than those in the lowest status group. However, whether any such positive association exists among countries at a given time is uncertain. Certainly, the happiness differences between rich and poor countries that one might expect on the basis of the within-country differences by economic status are not borne out by the international data. Similarly, in the one national time series studied, for the United States since 1946, higher income was not systematically accompanied by greater happiness. As for why national comparisons among countries and over time show an association between income and happiness that is so much weaker than, if not inconsistent with, that shown by within-country comparisons, a Duesenberry-type model, involving relative status considerations as an important determinant of happiness, is suggested.

 

Article 3

Kahneman, Daniel, and Alan B. Krueger. "Developments in the Measurement of Subjective Well-Being." The Journal of Economic Perspectives, vol. 20, no. 1, 2006, pp. 3-24. JSTOR, http://www.jstor.org/stable/30033631. Accessed 3 June 2023.

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The most major worry for Americans regardless of economic status could be related to financial concerns such as job security debt or retirement saving... View the full answer