Education, Reference Points, and Happiness
We study a reform that increased compulsory schooling in Britain. Using a regression discontinuity design, we find that, in line with prior studies, compulsory schooling caused an increase in income. However, it also caused a decrease in subjective well-being, or happiness. Using an extensive survey, we provide evidence that education affects both reference points and outcomes, but the former more than the latter. That is, while outcomes improve for those subject to compulsory education, they improve less than the individuals themeselves expect they will.
Date:
15 November 2022, 16:00 (Tuesday, 6th week, Michaelmas 2022)
Venue:
Manor Road Building, Manor Road OX1 3UQ
Venue Details:
Seminar Room A
Speaker:
Erik Snowberg (University of Utah)
Organising department:
Department of Economics
Part of:
Applied Microeconomics Seminar
Booking required?:
Not required
Audience:
Members of the University only
Editor:
Melis Clark
