Metrics Of Happiness

- Jeff Frank M.S. Candidate Community Development and Applied Economics University of Vermont The Metrics of Happiness: Assessing Subjective Well-Being using Anchoring Vignette Surveys

Objective ,[object Object],[object Object]

How it’s currently done ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Self-Assessment Surveys with Ordinal Categories ,[object Object],[object Object]

What’s wrong with Self-Assessment? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Anchoring Vignettes ,[object Object],[object Object],[object Object],[object Object],[object Object]

Anchoring for Happiness ,[object Object],Friends, Family, Marriage, Intelligence, Spirituality, Income, Extroversion, Aesthetics, Employment ,[object Object],Positive : “Paul has a normal life and a very loving family. How happy is Paul?” 0___________________________________________________100 ||||||||||1|||||||||2||||||||||3||||||||||4|||||||||5|||||||||||6|||||||||||7|||||||||8||||||||||9|||||||||| Negative: “Kim has a normal life but has no family at all. How happy is Kim?” 0___________________________________________________100 ||||||||||1|||||||||2||||||||||3||||||||||4|||||||||5|||||||||||6|||||||||||7|||||||||8||||||||||9||||||||||

Finding Variable Elasticities % Chg Q % Chg P = % Chg Happiness = (High-Low)/ Low % Chg Variable = 100% Def Elasticity: The measure of the percentage change in one variable brought about by a 1% change in another variable. 0____________|____________________|__________________100 ||||||||||1|||||||||2||||||||||3||||||||||4||||||||||5|||||||||||6|||||||||||7||||||||||8||||||||||9|||||||||| Low Family =25, High Family =65 %Chg F = 1.6 E(H,F) = 1.6 / 1 = 1.6 Means that a 1% increase in Family will result in a 1.6% increase in overall happiness.

Happiness Function ,[object Object],[object Object],[object Object],[object Object],[object Object]

Substitutability of Inputs ,[object Object],[object Object],Marriage = M Intelligence = I Spirituality = S Family = F Wealth = W Volunteering = V Extroversion = X Aesthetics = A Job satisfaction = J J J A J X X J V X V J W X V W F F F F F F J A X V S F S J I X I I F S I M M M M M F M I M J A X V W F S I M

Results of Priority Matrix ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],F = 1 M = 0.75 J = 0.75 X = 0.625 I = 0.5 V = 0.375 S = 0.25 W = 0.125 A = 0.125 Variable Priority 8 H f(M) = 0.75 M ^ 1.6

Sample Survey ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Estimating Real Happiness ,[object Object],[object Object]

Uses and Policy Implications ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Metrics Of Happiness

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