A Dynamic Model on Happiness and Exogenous Wealth Shock: The Case of Lottery Winners

Sherman, Arie; Shavit, Tal; Barokas, Guy

doi:10.1007/s10902-019-00079-w

Cited by 10 publications

(7 citation statements)

References 45 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…The third category is parental investments in cognitive skills. Literature shows that personal effort is positively associated with adulthood’s SWB through the notion of hedonic capital (Sherman & Shavit, 2018; Sherman et al, 2019). Cognitive effort is required for human capital accumulation, but other sorts of effort, like creative or physical efforts, are means for constructing social interactions, self-esteem, status, and meaningful work, which are the constituents of hedonic capital (Graham & Oswald, 2010).…”

Section: Background and Hypothesesmentioning

confidence: 99%

Can Parents Manage Their Children’s Future Happiness?—: A Retrospective Inquiry

Barokas

Shavit

Sherman

2021

Journal of Family Issues

Self Cite

View full text Add to dashboard Cite

The article addresses a novel concept: Parental Happiness Management (PHM)—which refers to parents’ educational or decisions aimed to improve their children’s well-being in adulthood. We ran a survey among 1,110 adults and asked them to retrospectively assess four types of parental decisions: discipline, autonomy, pro-social preferences, and parental acceptance. The results confirm the association between retrospective assessments of PHM and adults’ subjective well-being as measured by global life evaluation, positive, and negative feelings, and a sense of meaning in life. We report a positive association between discipline and meaning in life, but also between discipline and negative feelings. Education for pro-social preferences was found to be positively associated with all components of subjective well-being. The child’s autonomy was found to be positively associated with global life evaluation. We view parents as managers, who allocate their limited parental resources so as to maximize their children’s well-being in adulthood.

show abstract

Section: Background and Hypothesesmentioning

confidence: 99%

Can Parents Manage Their Children’s Future Happiness?—: A Retrospective Inquiry

Barokas

Shavit

Sherman

2021

Journal of Family Issues

Self Cite

View full text Add to dashboard Cite

show abstract

“…Each member of this community is willing to be engaged and contribute to the success of the project, because this engagement strengthens the bonds among community members and improves the project's prospects. Social relationships improve the productivity of hedonic capital (Sherman et al , 2019) which is a source of positive feelings and ultimately for a sense of accomplishment.…”

Section: A Theory On Perma and Serial Crowdfundingmentioning

confidence: 99%

A qualitative study on money, well-being and serial crowdfunding

Sherman

Axelrad

2020

BJM

Self Cite

View full text Add to dashboard Cite

PurposeThe paper aims to examine the unique nature of crowdfunding and its association with supporters' well-being, measured by Seligman's (2011) well-being theory and its five elements of PERMA: positive emotions, engagement, relationships, meaning and accomplishment.Design/methodology/approach22 structured interviews were conducted with supporters of crowdfunding projects. The interviews were analyzed using deduction, generating themes and assigning them to the relevant PERMA elements.FindingsAlmost all interviews included five or four PERMA elements, supporting the hypothesis about crowdfunding as a form of economic behavior that is triggered by the desire for fulfillment in life. The authors found that the tendency to become a serial crowdfunder is triggered by PERMA and a sense of trust.Originality/valueThis is the first study that presents a well-being theory of non-investment crowdfunding contributions. Based on the interviews, we suggest a theory linking the motivation for backing current and future projects with PERMA elements, sense of trust and the nature of adaption to activities with intrinsic attributes.

show abstract

“…Sherman et al’s model [ 13 ] explains how wealth shock causes negative consequences and unhappiness in literature. Like our model, they also apply EU as a measure of an individual’s subjective happiness.…”

Section: Happiness From "Wealth Shock"mentioning

confidence: 99%

“…Studying individual happiness must be quantitative and therefore relies on the economics’ model such as the EU. Interestingly, [ 13 ] distinguishes the monetary and non-monetary components of individual happiness. Nevertheless, in this paper, we argue that individual happiness may come from interpersonal comparisons.…”

Section: Happiness From "Wealth Shock"mentioning

confidence: 99%

“…Such distinctions are often omitted before [ 12 ]. Closed to the problem raised in our paper, the literature [ 13 ] studied how the sudden acquisition of a large sum of money produces negative consequences and causes greater unhappiness at the individual level. Interestingly, they distinguished between the pecuniary and non-pecuniary parts of individual happiness, whereas Chai’s theory [ 2 ] distinguishes one’s happiness that comes from the comparisons with himself and his competitors.…”

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

Measuring happiness under interpersonal comparison: An advanced theoretical framework and implications

Chai

2021

PLoS ONE

View full text Add to dashboard Cite

The origin of happiness arouses people’s curiosity for a long time. Recent research introduces a utility theory for measuring subjective happiness in a social context. The past recent monetary conditions influence the present subjective happiness through two distinct channels: interpersonal comparison and self-adaptation. In this paper, we develop this theory to analyze behavioral patterns. Together with prospect theory’s gain-loss utility function, we exploit the theory in predicting psychological phenomena of craving. We explore the relationships between happiness and earnings. Under certain conditions, a high payoff disappoints you immediately and even leads to continuous disappointment across periods. We extend the explanations of the scenarios of New York cabdrivers’ labor-supply decisions. The effect of social comparisons may trigger workers’ behaviors of quit-working, which deepen related understandings of the literature.

show abstract

A Dynamic Model on Happiness and Exogenous Wealth Shock: The Case of Lottery Winners

Cited by 10 publications

References 45 publications

Can Parents Manage Their Children’s Future Happiness?—: A Retrospective Inquiry

Can Parents Manage Their Children’s Future Happiness?—: A Retrospective Inquiry

A qualitative study on money, well-being and serial crowdfunding

Measuring happiness under interpersonal comparison: An advanced theoretical framework and implications

Contact Info

Product

Resources

About