2nd Place - Empirical Undergraduate
The Easterlin paradox suggests that a greater level of economic prosperity does not translate into more happiness for a society. We investigate this paradox using a methodology new to this literature called quantile regression (QR) analysis. We find evidence that aggregate income is statistically related to a nation’s average level of happiness, but (i) the magnitude of this relationship is relatively modest, and (ii) greater levels of income bring about smaller and smaller increases in a nation’s happiness. These results provide a more nuanced understanding of the empirical support for and against the Easterlin paradox.
Economics, Finance, & Accounting
Copyright the Author(s)
Crispin, Alexis and Schreyer, Sam
"Is a Country’s Aggregate Income Related to Its Level of Happiness?,"
SACAD: John Heinrichs Scholarly and Creative Activity Days: Vol. 2018, Article 15.
Available at: https://scholars.fhsu.edu/sacad/vol2018/iss2018/15