Does happiness adapt? a longitudinal study of disability with implications for economists and judges
By: by Andrew J. Oswald, Nattavudh Powdthavee
Contributors: Powdthavee, Nattavudh
Series: Discussion paper -- no. 2208; Discussion paper (Forschungsinstitut zur Zukunft der Arbeit : Online) -- no. 2208
Publisher: IZA
Published: 2006
Place of publication: Bonn, Germany
Language: eng
Format: [electronic resource] /
Subjects: Workers' compensation; Adaptability (Psychology)
Description: "Economics ignores the possibility of hedonic adaptation (the idea that people bounce back from utility shocks). This paper argues that economists are wrong to do so. It provides longitudinal evidence that individuals who become disabled go on to exhibit recovery in mental wellbeing. Adaptation to severe disability, however, is shown to be incomplete. The paper suggests ways to calculate the level of compensatory damages for the pain and suffering from disablement. Courts all over the world currently use ad hoc methods"--Forschungsinstitut zur Zukunft der Arbeit web site.
Notes: Title from PDF file as viewed on 7/19/2006.

Includes bibliographical references.

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