Much research found that economic inequality—the dispersion of incomes distribution among individuals in a society—affects subjective well-being (SWB). As meta-analysis has shown, the association between inequality, commonly measured by Gini index, and individuals' SWB is weak not significant. Psychosocial suggests situational perception, rather than objective reality, greater impact on individ...

We examine ethnic differences in objective and perceived economic well-being in rural Guatemala. The evidence shows that long-standing ethnic differentials in objective indicators of household economic well-being actually widened between 1988 and 1995, a period characterized by rapid economic growth rates. We examine the effects of a major determinant of household economic well-being in rural G...

Model-based economic optimization of oil production suffers from high levels of uncertainty. The limited knowledge of reservoir model parameters and varying economic conditions are the main contributors of uncertainty. The negative impact of these uncertainties on production strategy increases and becomes profound with time. In this work, a multi-objective optimization problem is formulated whi...