Latent entrepreneurship across nations

The paper studies latent entrepreneurship across nations. There are three main findings. First, large numbers of people in the industrial countries say they would prefer to be self-employed. Top of the international ranking of entrepreneurial spirit come Poland (with 80% saying so), Portugal and the USA; bottom of the table come Norway (with 27% saying so), Denmark and Russia. Second, for individuals the probability of preferring to be self-employed is strongly decreasing with age, while the probability of being self-employed is strongly increasing with age. Third, we show that self-employed individuals have noticeably higher job satisfaction than the employed, so people's expressed wish to run their business cannot easily be written off as mistaken. We speculate on why so much entrepreneurial spirit lies dormant

Latent entrepreneurship across nations

The paper studies latent entrepreneurship across nations. There are three main findings. First, large numbers of people in the industrial countries say they would prefer to be self-employed. Top of the international ranking of entrepreneurial spirit come Poland (with 80% saying so), Portugal and the USA; bottom of the table come Norway (with 27% saying so), Denmark and Russia. Second, for individuals the probability of preferring to be self-employed is strongly decreasing with age, while the probability of being self-employed is strongly increasing with age. Third, we show that self-employed individuals have noticeably higher job satisfaction than the employed, so people's expressed wish to run their business cannot easily be written off as mistaken. We speculate on why so much entrepreneurial spirit lies dormant

The use of happiness research for public policy

Research on happiness tends to follow a "benevolent dictator" approach where politicians pursue people's happiness. This paper takes an antithetic approach based on the insights of public choice theory. First, we inquire how the results of happiness research may be used to improve the choice of institutions. Second, we show that the policy approach matters for the choice of research questions and the kind of knowledge happiness research aims to provide. Third, we emphasize that there is no shortcut to an optimal policy maximizing some happiness indicator or social welfare function since governments have an incentive to manipulate this indicator

Nominal or Real? The Impact of Regional Price Levels on Satisfaction with Life

According to economic theory, real income, i.e., nominal income adjusted for purchasing power, should be the relevant source of life satisfaction. Previous work, however, has only studied the impact of inflation adjusted nominal income and not taken into account regional differences in purchasing power. Therefore, we use a novel data set to study how regional price levels affect satisfaction with life. The data set comprises about 7 million data points that are used to construct a price level for each of the 428 administrative districts in Germany. We estimate pooled OLS and ordered probit models that include a comprehensive set of individual level, time-varying and time-invariant control variables as well as control variables that capture district heterogeneity other than the price level. Our results show that higher price levels significantly reduce life satisfaction. Furthermore, we find that a higher price level tends to induce a larger loss in life satisfaction than a corresponding decrease in nominal income. A formal test of neutrality of money, however, does not reject neutrality of money. Our results provide an argument in favor of regional indexation of government transfer payments such as social welfare benefits

Money, sex and happiness : an empirical study

The links between income, sexual behavior and reported happiness are studied using recent data on a sample of 16,000 adult Americans. The paper finds that sexual activity enters strongly positively in happiness equations. Higher income does not buy more sex or more sexual partners. Married people have more sex than those who are single, divorced, widowed or separated. The happiness‐maximizing number of sexual partners in the previous year is calculated to be 1. Highly educated females tend to have fewer sexual partners. Homosexuality has no statistically significant effect on happiness

Cosmoglobe DR1. III. First full-sky model of polarized synchrotron emission from all WMAP and Planck LFI data

We present the first model of full-sky polarized synchrotron emission that is derived from all WMAP and Planck LFI frequency maps. The basis of this analysis is the set of end-to-end reprocessed Cosmoglobe Data Release 1 sky maps presented in a companion paper, which have significantly lower instrumental systematics than the legacy products from each experiment. We find that the resulting polarized synchrotron amplitude map has an average noise rms of $3.2\,\mathrm{\mu K}$ at 30 GHz and $2^{\circ}$ FWHM, which is 30% lower than the recently released BeyondPlanck model that included only LFI+WMAP Ka-V data, and 29% lower than the WMAP K-band map alone. The mean $B$-to-$E$ power spectrum ratio is $0.40\pm0.02$, with amplitudes consistent with those measured previously by Planck and QUIJOTE. Assuming a power law model for the synchrotron spectral energy distribution, and using the $T$--$T$ plot method, we find a full-sky inverse noise-variance weighted mean of $\beta_{\mathrm{s}}=-3.07\pm0.07$ between Cosmoglobe DR1 K-band and 30 GHz, in good agreement with previous estimates. In summary, the novel Cosmoglobe DR1 synchrotron model is both more sensitive and systematically cleaner than similar previous models, and it has a more complete error description that is defined by a set of Monte Carlo posterior samples. We believe that these products are preferable over previous Planck and WMAP products for all synchrotron-related scientific applications, including simulation, forecasting and component separation.Comment: 15 pages, 15 figures, submitted to A&