Arbeitspapier
Valuing Public Goods: The Life Satisfaction Approach
This paper discusses a novel approach to elicit people's preferences for public goods, namely the life satisfaction approach. Reported subjective well-being data are used to directly evaluate utility consequences of public goods. The strengths of this approach are compared to traditional approaches and identification issues are addressed. Moreover, it is applied to estimate utility losses caused by terrorist activities in France, the UK and the Republic of Ireland. Terrorism in these countries depresses life satisfaction in a sizeable and robust way. However, the calculation of the trade-off between terrorism and income requires improved measurement of the marginal utility of income.
- Language
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Englisch
- Bibliographic citation
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Series: CESifo Working Paper ; No. 1158
- Classification
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Wirtschaft
- Subject
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life satisfaction approach
non-market valuation
cost-benefit analysis
subjective well-being
and terrorism
- Event
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Geistige Schöpfung
- (who)
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Frey, Bruno S.
Luechinger, Simon
Stutzer, Alois
- Event
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Veröffentlichung
- (who)
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Center for Economic Studies and ifo Institute (CESifo)
- (where)
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Munich
- (when)
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2004
- Handle
- Last update
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10.03.2025, 11:43 AM CET
Data provider
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Frey, Bruno S.
- Luechinger, Simon
- Stutzer, Alois
- Center for Economic Studies and ifo Institute (CESifo)
Time of origin
- 2004
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Stress That Doesn't Pay : The Commuting Paradox
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