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Full-Text Articles in Social and Behavioral Sciences
Money Buys Financial Security And Psychological Need Satisfaction: Testing Need Theory In Affluence, Ryan T. Howell, Mark Kurai, Wing Yin Leona Tam
Money Buys Financial Security And Psychological Need Satisfaction: Testing Need Theory In Affluence, Ryan T. Howell, Mark Kurai, Wing Yin Leona Tam
Faculty of Commerce - Papers (Archive)
The most prominent theory to explain the curvilinear relationship between income and subjective well-being (SWB) is need theory, which proposes that increased income and wealth can lead to increased well-being in poverty because money is used to satisfy basic physiological needs. The present study tests the tenets of need theory by proposing that money can buy happiness beyond poverty if the money satisfies higher-order needs. Findings indicate that in older adults (n = 1,284), as economic standing rises, so do individual perceptions of financial security (a safety need), which in turn increases overall life satisfaction. Further, a path model tested …
Rational Exercising: A Lifetime Choice With A Link Between Health And Happiness, Amnon Levy
Rational Exercising: A Lifetime Choice With A Link Between Health And Happiness, Amnon Levy
Faculty of Commerce - Papers (Archive)
This paper deals with a widespread type of investment in personal health that is not adequately explained by the economic literature. The analysis of people’s choice of intensity of engagement in health enhancing activities is made within an integrative, stochastic, micro-dynamic optimisation framework in which people’s utility is accumulated along a health-dependent random lifespan with direct and indirect mutual effects among exercise, health, consumption, utility, happiness, productivity and survival. Distinction is made between exercise’s length and exercise’s vigour in analysing the effect of exercising on health and rest. A link between health and utility is introduced: health improves (declines) as …