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Culture, Happiness And The Paradox Of Choice In Modern Market Societies

Author

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  • Teodor Sedlarski

    (Faculty of Economics and Business Administration, Sofia University St Kliment Ohridski)

Abstract

This article summarizes the main concepts in Barry Schwartz's book 'The Paradox of Choice: Why More is Less' in the context of the latest insights in happiness economics, the discussion of social status and the cultural dimension of individualism-collectivism in economic literature. It highlights the author's ideas related to current analytical results in behavioral and institutional research.

Suggested Citation

  • Teodor Sedlarski, 2024. "Culture, Happiness And The Paradox Of Choice In Modern Market Societies," Yearbook of the Faculty of Economics and Business Administration, Sofia University, Faculty of Economics and Business Administration, Sofia University St Kliment Ohridski - Bulgaria, vol. 23(1), pages 219-285, June.
    • Handle: RePEc:sko:yrbook:v:23:y:2024:i:1:p:219-285
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    File URL: http://www.feba.uni-sofia.bg/sko/yrbook/Yearbook23-11.pdf
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    More about this item

    Keywords

    subjective well-being; social status; hedonic adaptation; positional goods; cognitive load; cognitive biases; heuristics; prospect theory; loss aversion; buyer’s remorse; depression; individualism; collectivism; framing; mental accounting; satisficing.;
    All these keywords.

    JEL classification:

    • Z1 - Other Special Topics - - Cultural Economics
    • D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
    • P17 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Performance and Prospects

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