The Happiness Equation
The Surprising Economics of Our Most Valuable Asset
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Why is marriage is worth £200k a year? Why does happiness from winning a lottery take two years to arrive? Why does time heal a divorce or a death of someone we loved but not unemployment and a severe disability? Why is it better to be a crime victim in a high crime area than in a low crime area? Everybody wants to be happy. But how much happiness precisely will each life choice bring? Should I get married? Am I really going be as elated after having children? How can we decide not only which choice is better for us, but how much is it better for us? MEASURING THE SMILE brings to a general re...
Why is marriage is worth £200k a year? Why does happiness from winning a lottery take two years to arrive? Why does time heal a divorce or a death of someone we loved but not unemployment and a severe disability? Why is it better to be a crime victim in a high crime area than in a low crime area? Everybody wants to be happy. But how much happiness precisely will each life choice bring? Should I get married? Am I really going be as elated after having children? How can we decide not only which choice is better for us, but how much is it better for us? MEASURING THE SMILE brings to a general readership for the first time the new science of the economics of happiness. It describes how we can quantify emotional reactions to different life experiences and present them in ways we can understand and relate to. How, for instance, price tags can be put on what cannot be bought or sold in the market such as marriage, friendship, or even death so that we can objectively rank them in order of preferences. It also explains why some things matter more to our happiness than others (like why seeing friends is worth more than a Ferrari) whilst others are worth almost nothing (like having children). Nick Powdthavee whose research has been discussed by Steven Levitt in the Freakonomics blog, and Tim Harford in the Undercover Economist blog brings the cutting-edge of research into how we value our happiness to a general audience with a style that wears its learning lightly and is a joy to read.
