Journal of Behavioral Economics and Finance
Online ISSN : 2185-3568
ISSN-L : 2185-3568
Proceedings
Are Facets of Homo economicus Associated with Higher Earnings and Happiness?
Shoko YamaneHiroyasu YonedaYoshiro Tsutsui
Author information
JOURNAL FREE ACCESS

2012 Volume 5 Pages 273-276

Details
Abstract
This paper investigates the individual outcomes of irrational thinking, including paranormality and non-scientific thinking. These modes of thinking were identified by factor analysis from a 2008 survey. Income and happiness are used as measures of performance. Empirical results reveal that non-scientific thinking lowers income, whereas paranormality does not affect it. While non-scientific thinking lowers happiness, paranormality raises it. Extending the model, we find that higher ability and self-control result in higher income and happiness. Selfishness raises income, but diminishes happiness. These results suggest that generally achieves higher individual performance except that belief in paranormality raises happiness.
Content from these authors
© 2012 Association of Behavioral Economics and Finance
Previous article Next article
feedback
Top