Title: Will Wealth Make You Happy? New Development of Happiness Economics
Lecturer: Prof. Daiji Xiao
Time: 4.11 15:30
Invited by: Prof. Ying Liu
This paper aims to estimate the effect of income on happiness and examine the moderating effect of societal values in the context of Ng (2002)’s East-Asian happiness gap. We found that the effect of income on happiness is the lowest (and insignificant) in Thailand and Philippines; and the highest(and strongly significant) in South Korea and Taiwan. The effect of income becomes insignificant once it is moderated by the societal values. Societal values could be the partial explanation of the East-Asian happiness gap andmight refute the relevance of Easterlin paradox.