Abstract
Frey and Stutzer analyze factors that affect subjective well-being. They focus on institutional effects, in particular the impact of direct democracy, on well-being, using Swiss data. The size of the effect amounts to the happiness effect of a jump from the lowest to the second lowest income class. Interestingly, foreigners benefit less than the Swiss, such that an additional procedural utility occurs beyond pure income effects.
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Literature
Frey, B. S., & Stutzer, A. (2000). Happiness, economy and institutions. Economic Journal, 110, 918–938.
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Feld, L.P. (2019). Lars P. Feld Recommends “Happiness, Economy and Institutions” by Bruno S. Frey and Alois Stutzer. In: Frey, B., Schaltegger, C. (eds) 21st Century Economics. Springer, Cham. https://doi.org/10.1007/978-3-030-17740-9_15
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DOI: https://doi.org/10.1007/978-3-030-17740-9_15
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