Edited by Alan B. Krueger, Daniel Kahneman, David Schkade, Norbert Schwarz and Arthur A. Stone

in Measuring the Subjective Well-Being of Nations

Published by University of Chicago Press

Published in print December 2009 | ISBN: 9780226454566
Published online February 2013 | e-ISBN: 9780226454573 | DOI:

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This chapter explains several valid points about the strengths and weaknesses of the proposed method for National Time Accounting (NTA), particularly regarding the idea of measuring subjective well-being by the fraction of time people spend in an unpleasant emotional state. The assumptions underlying the proposal for NTA seem to strike a reasonable balance between measurement requirements and practicality. The U-index and related indicators can provide a useful indicator of situations that are associated with unpleasant emotional experiences and of groups that are more likely to endure emotionally unpleasant experiences. It is hoped that NTA can provide a means for tracking whether societies are spending their time in more or less enjoyable ways, which can be an input along with others to derive a picture of the progress of society.

Keywords: National Time Accounting; NTA; subjective well-being; U-index; emotional experiences; emotional state; practicality

Chapter.  4221 words. 

Subjects: Econometrics and Mathematical Economics

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