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Lifestyle Tradeoffs and the Decline of Societal Well-Being: An Agent-Based Model

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Abstract

This paper presents a semi-quantitative mathematical model of the changes over time in the statistical distribution of well-being of individuals in a society. The model predicts that when individuals overvalue the more socially conspicuous aspects of well-being in their lifestyle choices, then the average well-being of the overall population may experience continuous decline. In addition to tradeoff cost and overvaluation, we identify statistical variation in individuals’ well-being and turnover within the population as key factors driving negative trends. We investigate the influence of the effects of heterogeneity in the population, as well as economic and/or technological progress.

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  • Christopher Thron, 2016. "Lifestyle Tradeoffs and the Decline of Societal Well-Being: An Agent-Based Model," Journal of Artificial Societies and Social Simulation, Journal of Artificial Societies and Social Simulation, vol. 19(2), pages 1-5.
    • Handle: RePEc:jas:jasssj:2015-100-2
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    1. Betsey Stevenson & Justin Wolfers, 2008. "Economic Growth and Subjective Well-Being: Reassessing the Easterlin Paradox," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 39(1 (Spring), pages 1-102.
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    3. Chack Wong & Ka Wong & Bong Mok, 2006. "Subjective Well-Being, Societal Condition and Social Policy – The Case Study of a Rich Chinese Society," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 78(3), pages 405-428, September.
    4. Easterlin, Richard A., 1995. "Will raising the incomes of all increase the happiness of all?," Journal of Economic Behavior & Organization, Elsevier, vol. 27(1), pages 35-47, June.
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