2. Explain the hedonic treadmill and its impact on happiness and well-being?
4. Using an example from health, explain Peak Affect and End Affect and how retrospective evaluation can yield absurd preferences in treatment choices?
6. Among the three different happiness surveys Gallup Pool, Cantor Procedure and U-Index, which ones measure subjective happiness, which ones measures objective happiness?
8. What is focusing illusion and how does it explain the violation of powerful intuition that paraplegics are utterly miserable? Can you give some other real life examples of focusing illusions?
10. What is prospect theory and explain its differences from Bernoulli's classic statement of expected utility theory?
12. What is the difference between remembered utility and experienced utility? Would this create measurement error when deciding the happiness and well-being level?
14. Determine if you agree and disagree with the following statement. Explain your reason according to Kahneman and Deaton article, in United States A. After $75,000/y, there is no improvement whatever in any of the measures of well-being. B. After $40,000/y, income has no effect on living stress-free. C.If your income is above $3000/mo, the effect of misfortune events such as divorced, asthma, headache is less severe than the group that makes less than $1000/mo, D. People will not be happy with a raise from $80,000 to $120,000
16. Give an example of time saving purchase in your life? One of the article suggests that working adults reports greater well-being after spending money on a time-saving purchase than on a material purchase. Would you agree with this statement? How does it reflect on your life, give a real life example.

Reference this articles

Kahneman, D., Diener, E., & Schwarz, N. (Eds.). (1999). Well-being: The foundations of hedonic psychology. Russell Sage Foundation.

Kahneman, D., & Deaton, A. (2010). High income improves evaluation of life but not emotional well-being. Proceedings of the National Academy of Sciences of the United States of America, 107(38), 16489-16493. https://doi.org/10.1073/pnas.1011492107

High income improves evaluation of life but not emotional well-being on JSTOR

4. Buying time promotes happiness (pnas.org)

5.Kahneman, Daniel, et al. "Back to Bentham? Explorations of Experienced Utility." The Quarterly Journal of Economics, vol. 112, no. 2, 1997, pp. 375-405. JSTOR, http://www.jstor.org/stable/2951240. Accessed 7 June 2023.

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The hedonic treadmill refers to the tendency of humans to return to a relatively stable level of happiness despite major positive or negative events or life changes This means that people often adapt ... View the full answer