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Easterlin and other researchers have examined data from the United States and Japan to analyze a seemingly paradoxical relationship between life satisfaction and economic growth. In Japan, data from the "Life in Nation" surveys, initiated in 1958, initially suggests that mean life satisfaction remained constant despite significant economic growth.
[6] [7] Life satisfaction is influenced by personal values, cultural background, economic conditions, and social relationships. [8] Life satisfaction is a key part of subjective well-being. Many factors influence subjective well-being and life satisfaction. Socio-demographic factors include gender, age, marital status, income, and education.
[10] Similarly, the longitudinal study conducted by Fujita and Diener (2005) described the life satisfaction set point as a "soft baseline". This means that for most people, this baseline is similar to their happiness baseline. Typically, life satisfaction will hover around a set point for the majority of their lives and not change dramatically.
The Happy Planet Index was used along with data from UNESCO on access to schooling, from the WHO on life expectancy, and from the CIA on GDP per capita to perform a new analysis to come to a unique and novel set of results. [6] Specifically, the extent of correlation between measures of poverty, health and education, and the variable of happiness.
Typically, life satisfaction, or evaluative wellbeing is measured with Cantril's self-anchoring ladder, a questionnaire where wellbeing is rated on a scale from 1–10. Happiness or hedonic/Affective well-being measurement is measured with the positive and negative affect schedule (PANAS), a more complex scale.
Each country's HPI value is a function of its average subjective life satisfaction, life expectancy at birth, and ecological footprint per capita. The exact function is a little more complex, but conceptually it approximates multiplying life satisfaction and life expectancy and dividing that by the ecological footprint.
The terms quality of life, good life, welfare, prudential value, personal good, and individual utility are often used as synonyms of well-being. [10] Similarly, the words pleasure , life satisfaction, and happiness are employed in overlapping ways with well-being , although their precise meanings differ in technical contexts like philosophy and ...
The economics of happiness or happiness economics is the theoretical, qualitative and quantitative study of happiness and quality of life, including positive and negative affects, well-being, [1] life satisfaction and related concepts – typically tying economics more closely than usual with other social sciences, like sociology and psychology, as well as physical health.