Latter-day researches based on reported subjective well-being have improved the understanding of utility. The concept of utility has acquired a psychological content, and has proved to be operational in researches on income, unemployment, inflation, inequality, and democratic institutions in their relations with happiness. The authors plead for fostering happiness researches, and give examples in which happiness researches shed light on rational choice and on policy issues.
Keywords: utility; rationality; well-being
Chapter. 11405 words. Illustrated.
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