Chapter

The Impact Of Past And Future On Present Satisfaction

Bernard Van Praag

in Happiness Quantified

Published in print April 2004 | ISBN: 9780198286547
Published online January 2005 | e-ISBN: 9780191718601 | DOI: http://dx.doi.org/10.1093/0198286546.003.0007
 The Impact Of Past And Future On Present Satisfaction

Show Summary Details

Preview

This chapter examines the theory that the individual’s current satisfaction will depend on his or her own past experience and expected future. The study assumes that both the past and the future have an effect, and that the impact distribution is described by a mass-density function on the time axis. Estimations of the function showed that it varies its position and shape depending on age and other individual variables. The young and elderly place more weight on the past, while those in mid-life give more weight to the future.

Keywords: individual satisfaction; past experience; expected future; individual-welfare function; mass-density function

Chapter.  9868 words.  Illustrated.

Subjects: Microeconomics

Full text: subscription required

How to subscribe Recommend to my Librarian

Buy this work at Oxford University Press »

Users without a subscription are not able to see the full content. Please, subscribe or login to access all content.