Search results

We consider the link between poverty and subjective well-being, and focus in particular on the role of time. We use panel data on 49,000 individuals living in Germany from 1992 to 2012 to uncover three empirical relationships. First, life satisfaction falls with both the incidence and intensity of contemporaneous poverty. Second, poverty scars: those who have been poor in the past report lower life satisfaction today, even when out of poverty. Last, the order of poverty spells matters: for a given number of years in poverty, satisfaction is lower when the years are linked together. As such, poverty persistence reduces well-being. These effects differ by population subgroups.

This chapter reviews and integrates recent research on curiosity. We discuss potential costs and benefits of curiosity, both hedonic and motivational. In particular, we examine the Pandora effect, the teasing effect, and the motivating-uncertainty effect.

The consumer behaviour literature is evolving towards the assumption that products are inherently experiential bundles, and after all, all businesses are operating within the experienced economy. Experiences are much more advantageous for the consumers because they advance happiness or enjoyment of life (instead of survival or maintenance). Experiential purchases lead to greater happiness levels compared to material purchases. Reliance on materialism and material purchases is shown to be the reason of low happiness levels in even the most affluent countries.

In this chapter, based on theoretical as well as empirical papers, I analyse experiences and the consumption of experiences in the Turkish context. The arguments are supported by up-to-date market analysis of related industries conducted by independent market research agencies. The first section looks at the rise of experientialism in retail industries, such as in the case of shopping malls. The following sections touch upon main experiential categories such as tourism, dining and sports. Finally, the social aspects of experiences are discussed in the context of third-place experiences, and some empirical findings are presented. The chapter concludes with some recommendations for practitioners, experience designers, service providers as well as researchers.

World population has increased six-fold in the last two centuries, and thus agricultural production must have grown as well. The last fifty years of this increase are covered by the Food and Agriculture Organization (FAO) production series. This article aims to push our quantitative knowledge back in time as far as possible. It reviews the scattered evidence on agricultural production in the first half of the 19th century, estimates a yearly series of output for the main countries since 1870, and puts forward some guesstimates on trends in the rest of the world. In the long run, agricultural production has increased more than population. Growth has affected all continents, even if it has been decidedly faster in both the countries of Western Settlement and in Eastern Europe, than in Asia or in Western Europe. It was faster before World War I, a veritable golden age for world agriculture, than in the inter-war years. The composition of production has changed as well, with an increase in the share of livestock products.

In this paper, we use data from the US census to document the history of the relationship between fertility choice and key economic indicators at the individual level for women born between 1826 and 1960. We find that this data suggests several new facts that should be useful for researchers trying to model fertility. (1) The reduction in fertility known as the Demographic Transition (or the Fertility Transition) seems to be much sharper based on cohort fertility measures compared to usual measures like Total Fertility Rate; (2) The baby boom was not quite as large as is suggested by some previous work; (3) We find a strong negative relationship between income and fertility for all cohorts and estimate an overall income elasticity of about −0.38 for the period; (4) We also find systematic deviations from a time invariant, iso-elastic, relationship between income and fertility. The most interesting of these is an increase in the income elasticity of demand for children for the 1876–1880 to 1906–1910 birth cohorts. This implies an increased spread in fertility by income which was followed by a dramatic compression.