Corpus ID: 85532017

A critique of the econometrics of happiness: Are we underestimating the returns to education and income?

@article{BarringtonLeigh2018ACO,
  title={A critique of the econometrics of happiness: Are we underestimating the returns to education and income?},
  author={C. Barrington-Leigh},
  journal={arXiv: Econometrics},
  year={2018}
}
A large "happiness", or life satisfaction, literature in economics makes use of Likert-like scales in assessing survey respondents' cognitive evaluations of their lives. These measures are being used to estimate economic benefits in every empirical field of economics. Typically, analysis of these data have shown remarkably low direct returns of education for improving subjective well-being. In addition, arguably, the inferred impact of material wealth and income using this method is also… Expand

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