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Happiness of economists

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  • Lars P. Feld
  • Sarah Necker
  • Bruno S .Frey

Abstract

This study investigates the determinants of economists’ life satisfaction. The analysis is based on a survey of professional, mostly academic economists from European countries and beyond. We find that certain features of economists’ professional situation influence their well-being. Happiness is increased by having more research time while the lack of a tenured position decreases satisfaction in particular if the contract expires in the near future or cannot be extended. Surprisingly, publication success has no effect on satisfaction. While the perceived level of external pressure also has no impact, the perceived change of pressure in recent years has. Economists may have accepted a high level of pressure when entering academia but do not seem to be willing to cope with the increase observed in recent years.

Suggested Citation

  • Lars P. Feld & Sarah Necker & Bruno S .Frey, 2014. "Happiness of economists," CREMA Working Paper Series 2014-16, Center for Research in Economics, Management and the Arts (CREMA).
    • Handle: RePEc:cra:wpaper:2014-16
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    More about this item

    Keywords

    Happiness; academiclabormarket; extrinsicandintrinsicmotivation; publish or perish-culture;
    All these keywords.

    JEL classification:

    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
    • J28 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Safety; Job Satisfaction; Related Public Policy

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