Happiness quantified: a satisfaction calculus approach

Abstract

This book introduces a new approach to the analysis of subjective well-being. It proposes that the subjective experience of satisfaction with various aspects of life can be operationalized and measured using statistical methods traditionally used to analyze objective data. This approach draws on the Leyden School’s earlier work on the ‘welfare function of income’, which found that individuals’ perceptions of their financial situation are influenced not only by their income but also by factors such as family size and expectations. The book explores the influence of various factors, such as age, health, and social environments, on individuals’ well-being and applies the approach to specific policy issues, such as the impact of climate change and aircraft noise on welfare. The book argues that the ‘satisfaction calculus’ can be used to develop more nuanced and effective policies that address the complex needs and perceptions of people. – AI-generated abstract.