Authors:

  • Michael Norton

Excerpt

Individual Experience of Positive and Negative Growth is Asymmetric: Evidence from Subjective Well-being Data. Michael I. Norton, October 2014, Paper. "Are individuals more sensitive to losses than gains in macroeconomic growth? Using subjective well-being measures across three large data sets, we observe an asymmetry in the way positive and negative economic growth are experienced, with losses having more than twice as much impact on individual happiness as compared to equivalent gains. We use Gallup World Poll data drawn from 151 countries, BRFSS data taken from a representative sample of 2.5 million UN respondents..." Link