A major finding from research into the sources of subjective well-being is that individuals exhibit a “baseline” level of happiness. We explore the influence of genetic variation by employing a twin design and genetic association study. We first show that about 33% of the variation in happiness is explained by genes. Next, using two independent data sources, we present evidence that individuals...

We present a model of reference dependence, which assumes that reference points affect choice by directing the decision maker’s attention towards the particular goods in the reference bundle. This model makes no assumptions about the curvature of utility, and does not assume a built-in asymmetry in gains and losses. Nonetheless it is able to generate loss aversion and can explain a large number...

This short paper discusses majority and minority views in economics regarding the value of neuroscience for economics – and thus the value of the neuroeconomics research program. It argues that neuroeconomics’ reception ultimately depends on whether economists adopt a philosophy of science thinking closer to what exists in other sciences. It then argues that an inadvertent a product of this deb...

A Socio-economic Analysis of Youth Disconnectedness Disconnectedness among youth can have several dimensions. From a socio-economic viewpoint, failure in school, unemployment and the lack of an intimate relationship are among the most important ones. In our samples from SOEP youth questionnaires, approximately 13% of young people in Germany between the ages of 17 and 19 are disconnected. The pe...

This paper explores a general model of the evolution and adaption of hedonic utility. It is shown that optimal utility will be increasing strongly in regions where choices have to be made often and decision mistakes have a severe impact on fitness. Several applications are suggested. In the context of intertemporal preferences, the model offers an evolutionary explanation for the existence of c...

Poverty remains one of the most pressing problems facing the world. In this paper, I review evidence suggesting that poverty has particular neurobiological consequences, and that these consequences in turn lead to suboptimal economic behaviors which exacerbate and perpetuate poverty. Speci cally, I argue that poverty raises levels of the stress hormone cortisol, causes dysregulation and altered...

AIM The present study was undertaken to characterize the mutation in gyrA (DNA gyrase) and parC (topoisomerase IV) genes responsible for fluoroquinolone resistance in Escherichia coli isolates associated with the bovine mastitis. MATERIALS AND METHODS A total of 92 milk samples from bovine mastitis cases were sampled in and around Puducherry (Southern India). Among these samples, 30 isolates ...

We propose and test the idea that investor perceptions exhibit volatility ‘after-effects’ whereby perceived volatility is distorted after prolonged exposure to extreme volatility levels. Using VIX to measure perceived volatility in S&P 500 stocks, we find evidence of significant perceptual distortions in the aftermath of volatility regimes, consistent with the after-effect theory and recent exp...