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March 24, 2020
Article

Delayed Negative Effects of Prosocial Spending on Happiness

By: Armin Falk and Thomas Graeber

Does prosocial behavior promote happiness? We test this longstanding hypothesis in a behavioral experiment that extends the scope of previous research. In our Saving a Life paradigm, every participant either saved one human life in expectation by triggering a targeted... View Details

Keywords: Prosocial Behavior; Altruism; Happiness; Well-being; Spending; Behavior

Article

Inflation-Indexed Bonds and the Expectations Hypothesis

By: Carolin E. Pflueger and Luis M. Viceira

This paper empirically analyzes the Expectations Hypothesis (EH) in inflation-indexed (or real) bonds and in nominal bonds in the U.S. and in the U.K. We strongly reject the EH in inflation-indexed bonds and also confirm and update the existing evidence rejecting the... View Details

Keywords: TIPS; Breakeven Inflation; Return Predictability; Bond Risk Premia; Risk Management; Bonds; Financial Liquidity; Inflation and Deflation; United Kingdom; United States

2013
Working Paper

Return Predictability in the Treasury Market: Real Rates, Inflation, and Liquidity

By: Carolin E. Pflueger and Luis M. Viceira

Estimating the liquidity differential between inflation-indexed and nominal bond yields, we separately test for time-varying real rate risk premia, inflation risk premia, and liquidity premia in U.S. and U.K. bond markets. We find strong, model independent evidence... View Details

Keywords: Expectations Hypothesis; Term Structure; Real Interest Rate Risk; Inflation Risk; Inflation-Indexed Bonds; Financial Crisis; Inflation and Deflation; Financial Liquidity; Bonds; Investment Return; Risk and Uncertainty; United Kingdom; United States

SSRN

Article

Gross National Happiness As an Answer to the Easterlin Paradox?

By: Rafael Di Tella and Robert MacCulloch

The Easterlin Paradox refers to the fact that happiness data are typically stationary in spite of considerable increases in income. This amounts to a rejection of the hypothesis that current income is the only argument in the utility function. We find that the... View Details

Keywords: Wealth and Poverty; Happiness; Employment; Income; Mathematical Methods; Welfare

April 2005
Article

Partisan Social Happiness

By: Rafael Di Tella and Robert MacCulloch

We use a new approach to study questions in political economy that relies on data on the subjective well-being of a large sample of people living in the OECD over the period 1975-1992. Controlling for the personal characteristics of the respondents, year and country... View Details

Keywords: Political Partisanship; Political Economy; Society; Happiness

July 1989
Article

Immunizing Children Against the Negative Effects of Reward

By: B. A. Hennessey, T. M. Amabile and M. Martinage

Two studies were conducted to examine the effect of intrinsic motivation training on children's subsequent motivational orientation and creativity in an expected reward situation. Past research has demonstrated the overjustification effect: Children who work on an... View Details

Keywords: Creativity; Motivation and Incentives; Training; Early Childhood Education; Learning; Teaching

Article

New Hope for the Expectations Hypothesis of the Term Structure of Interest Rates

By: K. A. Froot

Keywords: Rational Expectations; Yield Curve; Interest Rates; Asset Pricing; Behavioral Finance