The ‘well-being valuation method’ is a recently developed technique for valuing the effect, in monetary terms, of a health problem on an individual’s well-being. The method involves calculating the compensating variation necessary to maintain the same level of well-being after suffering from… Read More »The well-being valuation approach: Solution or convolution?
A couple of weeks ago when I was out shopping with a friend, after informing him that I had never bought a scratch card from the shop he persuaded me to buy one to tick it off the list of… Read More »Does money really make you happy: An economic approach
I recently listened to a radio show that got me thinking about something, which, to my knowledge, has never been explored. We all know the famous phrase from the United States Declaration of Independence about the ‘inalienable’ rights of man;… Read More »Life, liberty and the pursuit of unhappiness
The UK government recently announced plans to “measure happiness” in the country, at an apparent cost of £2 million. The Prime Minister’s argument for this being that GDP is too crude a measure for the achievements of a nation or,… Read More »Satisfaction with life: The UK government’s bid to measure happiness