Table of Contents

Handbook on the Economics of Happiness

Handbook on the Economics of Happiness

Elgar original reference

Edited by Luigino Bruni and Pier Luigi Porta

This book is a welcome consolidation and extension of the recent expanding debates on happiness and economics. Happiness and economics, as a new field for research, is now of pivotal interest particularly to welfare economists and psychologists. This Handbook provides an unprecedented forum for discussion of the economic issues relating to happiness. It reviews the more recent literature and offers the interested reader an insight into the vast scope of the field in terms of the theory, its applications and also experimental design. The Handbook also gives substantial indications as to the future direction of research in the field, with particular regard to policy applications and developing an economics of interpersonal relations which includes reciprocity and social interaction theory.

Chapter 19: Values and Happiness in Mexico: The Case of the Metropolitan City of Monterrey

Jose de Jesus Garcia, Nicole Christa Fuentes, Salvador A. Borrego, Alejandro Tapia and Monica D. Gutierrez

Subjects: economics and finance, economic psychology

Extract

Jose de Jesus Garcia, Nicole Christa Fuentes, Salvador A. Borrego, Monica D. Gutierrez and Alejandro Tapia 1. Introduction The relationship between happiness and its determinants has been the theme of many studies. Relevant advances on the study of happiness have been made in developed countries like the United States, the UK and Australia; however, research on happiness in Latin American countries is incipient. Although theories and results from industrialized countries constitute an important reference, happiness determinants may differ between developed and developing countries, especially if societal and personal values are different. Happiness determinants such as money income, health and personality have been thoroughly explored, while research analysing the effect on certain personal values on happiness is limited. Conventional wisdom tells us that Latin American countries are characterized as countries of strong traditional values. Thus, an understanding of the role personal values play in the construction of happiness in Latin American societies becomes relevant, because values may be one of the key determinants for happiness in these countries. Moreover, as there is no ‘definitive’ or ‘bullet-proof’ model available that perfectly accounts for happiness, a further search of models and specifications is recommended. This chapter explores the relationship between happiness and its determinants in the northern Mexican city of Monterrey. Data from a survey conducted during the late part of 2002 were used to run different models and specifications in order to confirm or reject previous findings and, especially, to try to assess whether...

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