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Publication - Professor Eugenio Proto

    LABORATORY EVIDENCE for EMOTIONAL EXTERNALITIES

    AN ESSAY in HONOR of EJ MISHAN

    Citation

    Sgroi, D, Proto, E, Oswald, AJ & Dobson, A, 2016, ‘LABORATORY EVIDENCE for EMOTIONAL EXTERNALITIES: AN ESSAY in HONOR of EJ MISHAN’. Singapore Economic Review, vol 61.

    Abstract

    Professor EJ Mishan was a world expert on the idea of externalities. In this paper, we provide evidence for the intuitive idea of "emotional externalities". These might be viewed as psychological spillovers from the well-being of one person upon the well-being of another. A new form of laboratory experiment is implemented. "Happiness" answers are elicited in the first few seconds of the experiment. Tragic life events - like family illness and bereavement - are then studied. The paper documents evidence consistent with a powerful caring-about-others effect. The paper's results also suggest an approximate equivalence between life-satisfaction data and happiness data.

    Full details in the University publications repository