ALOIS STUTZER June 2012

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1 Curriculum vitae ALOIS STUTZER June 2012 Addresses: Wirtschaftswissenschaftliches Zentrum (WWZ), Universität Basel Employment Aug July July 2009 Faculty of Business and Economics, University of Basel Peter Merian-Weg 6 (Postfach), 4002 Basel, Switzerland Phone: ++41 (0) , Fax: ++41 (0) alois.stutzer@unibas.ch Home address: Lettenrain 2a, 4104 Oberwil, Switzerland, Phone: ++41 (0) Professor of Public Choice and Public Economics, Faculty of Business an Economics, University of Basel Assistant Professor of Public Finance/Public Economics, Faculty of Business an Economics, University of Basel Senior Assistant, Institute for Empirical Research in Economics, University of Zurich 2002 Research Fellow, Boalt Hall School of Law, University of California, Berkeley Assistant, Institute for Empirical Research in Economics, University of Zurich Teaching assistant, Statistical Seminar, University of Zurich Trainee, Swiss Reinsurance Company, Zurich Education 2007 Habilitation in economics, University of Zurich 2001 Dr. oec. publ., University of Zurich, with summa cum laude (Ph.D., Economics) 1998 Lic. oec. publ., University of Zurich, with summa cum laude (Master of Economics) Professional Affiliations Research Fellow, CREMA (Center for Research in Economics, Management and the Arts), Basel (since July 2003) Member of the Comparative Law and Economics Forum (CLEF) (since June 2006) Research Fellow, Institute for the Study of Labor (IZA), Bonn, Germany (since July 2005) Editorial Experience Managing editor of Kyklos (2012-present) Member of the editorial boards of Politics, Philosophy & Economics (2000-present), the Journal of Happiness Studies (2005-present), Economic Analysis and Policy (2008-present) and International Journal of Happiness and Development (2012-present). Co-editor of the series Neue Studien zur Politischen Ökonomie published with Nomos, Baden-Baden (2006-present). 1

2 List of Publications Books Frey, Bruno S. and Alois Stutzer (2002). Happiness and Economics. How the Economy and Institutions Affect Human Well-Being. Princeton: Princeton University Press. Japanese edition with Diamond Company, Japan, Chinese edition with Beijing University Press, China, Italian edition with Il Sole 24 ORE, Milan, Korean edition forthcoming with Yemun Publishing Company, Chapter 4 Income reprinted in: Shlomo Maital (ed.). Recent Developments in Economic Psychology. The International Library of Critical Writings in Economics Series. Cheltenham, UK and Northampton, MA: Edward Elgar, Alois Stutzer (2001). Eine ökonomische Analyse menschlichen Wohlbefindens. Dissertation, University of Zurich. (Published with Shaker Verlag, Aachen, 2003) Edited Volumes Frey, Bruno S. and Alois Stutzer (2007). Economics and Psychology. A Promising New Cross- Disciplinary Field. Cambridge: MIT Press. Scientific Articles in Refereed Journals and Books Frey, Bruno S. and Alois Stutzer (1999). Measuring Preferences by Subjective Well-Being. Journal of Institutional and Theoretical Economics 155(4): Frey, Bruno S. and Alois Stutzer (1999). Public Choice and the Public Sector. Swiss Political Science Review 5(2): Frey, Bruno S. and Alois Stutzer (2000). Maximizing Happiness? German Economic Review 1(2): Spanish translation: Maximizar la felicidad? In: Andrés Roemer (compilador). Felicidad. Un enfoque de derecho y econmía. México: Themis, 2005: Frey, Bruno S. and Alois Stutzer (2000). Happiness Prospers in Democracy. Journal of Happiness Studies 1(1): Stutzer, Alois and Bruno S. Frey (2000). Stärkere Volksrechte Zufriedenere Bürger: eine mikroökonometrische Untersuchung für die Schweiz. Schweizerische Zeitschrift für Politikwissenschaft 6(3): Frey, Bruno S. and Alois Stutzer (2000). Happiness, Economy and Institutions. Economic Journal 110(466): Reprinted in: Richard A. Easterlin (ed.). Happiness in Economics. The International Library of Critical Writings in Economics Series. Cheltenham, UK and Northampton, MA: Edward Elgar,

3 Stutzer, Alois (2000). Auf dem Weg zum Freihandel für Agrargüter. Austrian Journal of Agricultural Research 51(4): Frey, Bruno S., Marcel Kucher and Alois Stutzer (2001). Outcome, Process and Power in Direct Democracy. New Econometric Results. Public Choice 107(3-4): Blanchflower, David G., Andrew J. Oswald and Alois Stutzer (2001). Latent Entrepreneurship Across Nations. European Economic Review 45(4-6): Frey, Bruno S., Matthias Benz and Alois Stutzer (2001). Trusting Constitution. Économie publique 7(1): Frey, Bruno S. and Alois Stutzer (2001). Economics and Psychology: From Imperialistic to Inspired Economics. Revue de philosophie économique 4: Frey, Bruno S. and Alois Stutzer (2002). The Economics of Happiness. World Economics 3(1): Stutzer, Alois and Rafael Lalive (2002). Soziale Arbeitsnorm und Arbeitslosigkeit in der Schweiz. Schweizerische Zeitschrift für Volkswirtschaft und Statistik 138(3): Frey, Bruno S. and Alois Stutzer (2002). What Can Economists Learn from Happiness Research? Journal of Economic Literature 40(2): Reprinted in: Ian M. McDonald (ed.) (2012). Behavioral Macroeconomics. The International Library of Critical Writings in Economics series. Cheltenham: Edward Elgar. Luechinger, Simon and Alois Stutzer (2002). Skalenerträge in der öffentlichen Kernverwaltung. Eine empirische Analyse anhand von Gemeindefusionen. Schweizerische Zeitschrift für Politikwissenschaft 8(1): Benz, Matthias and Alois Stutzer (2003). Was erklärt die gestiegenen Managerlöhne? Die Unternehmung 57(1): Frey, Bruno S., and Aolis Stutzer (2003). Institutions Matter for Procedural Utility. An Econometric Study of the Impact of Political Participation Possibilities. In: Ram Mudambi, Pietro Navarra and Giuseppe Sobbrio (eds). Economic Welfare, International Business and Global Institutional Change. Aldershot: Edward Elgar: Benz, Matthias and Alois Stutzer (2003). Do Workers Enjoy Procedural Utility? Applied Economics Quarterly 49(2): Stutzer, Alois (2004). The Role of Income Aspirations in Individual Happiness. Journal of Economic Behavior and Organization 54(1): Stutzer, Alois and Bruno S. Frey (2004). Reported Subjective Well-Being: A Challenge for Economic Theory and Economic Policy. Schmollers Jahrbuch 124(2): Benz, Matthias and Alois Stutzer (2004). Are Voters Better Informed When They Have a Larger Say in Politics? Evidence for the European Union and Switzerland. Public Choice 119(1-2): Frey, Bruno S., Matthias Benz and Alois Stutzer (2004). Introducing Procedural Utility: Not Only What but also How Matters. Journal of Institutional and Theoretical Economics 160(3): Stutzer, Alois and Rafael Lalive (2004). The Role of Social Work Norms in Job Searching and Subjective Well-Being. Journal of the European Economic Association 2(4):

4 Frey, Bruno S. and Alois Stutzer (2005). Beyond Outcomes: Measuring Procedural Utility. Oxford Economic Papers 57(1): Frey, Bruno S. and Alois Stutzer (2005). Happiness Research: State and Prospects. Review of Social Economy 62(2): Stutzer, Alois and Lukas Kienast (2005). Demokratische Beteiligung und Staatsausgaben: Die Auswirkungen des Frauenstimmrechts. Swiss Journal of Economics and Statistics 141(4): Stutzer, Alois and Bruno S. Frey (2005). Making International Organizations More Democratic. Review of Law and Economics 1(3): Frey, Bruno S. and Alois Stutzer (2005). Testing Theories of Happiness. In: Luigino Bruni and Pierluigi Porta (eds.). Economics and Happiness. Framing the Analysis. Oxford: Oxford University Press: Frey, Bruno S. and Alois Stutzer (2006). Mispredicting Utility and the Political Process. In: Edward J. McCaffery and Joel Slemrod (eds). Behavioral Public Finance. New York: Russell Sage Foundation: Stutzer, Alois and Bruno S. Frey (2006). Does Marriage Make People Happy, Or Do Happy People Get Married? Journal of Socio-Economics 35(2): Spanish translation: El matrimonio, hace felices a las personas o las personas felices se casan? In: Andrés Roemer (compilador). Felicidad. Un enfoque de derecho y econmía. México: Themis, 2005: Stutzer, Alois and Bruno S. Frey (2006). Political Participation and Procedural Utility: An Empirical Study. European Journal of Political Research 45(3): Frey, Bruno S. and Alois Stutzer (2006). Direct Democracy: Designing a Living Constitution. In: Roger D. Congleton and Birgitta Swedenborg (eds). Democratic Constitutional Design and Public Policy, Analysis and Evidence. Cambridge: MIT Press: Frey, Bruno S. and Alois Stutzer (2006). Strengthening the Citizens Role in International Organizations. Review of International Organizations 1(1): Frey, Bruno S., Simon Luechinger and Alois Stutzer (2007). Calculating Tragedy: Assessing the Costs of Terrorism. Journal of Economic Surveys 21(1): Frey, Bruno S., Christine Bensch and Alois Stutzer (2007). Does Watching TV Make Us Happy? Journal of Economic Psychology 28(3): Luechinger, Simon, Myra Rosinger and Alois Stutzer (2007). The Impact of Postal Voting on Participation: Evidence for Switzerland. Swiss Political Science Review 13(2): Frey, Bruno S. and Alois Stutzer (2007). Economics and Psychology: Developments and Issues. In: Bruno S. Frey and Alois Stutzer (eds). Economics and Psychology. A Promising New Cross- Disciplinary Field. Cambridge: MIT Press: Stutzer, Alois and Bruno S. Frey (2007). What Happiness Research Can Tell Us About Self-Control Problems and Utility Misprediction. In: Bruno S. Frey and Alois Stutzer (eds). Economics and Psychology. A Promising New Cross-Disciplinary Field. Cambridge: MIT Press:

5 Meier, Stephan and Alois Stutzer (2008). Is Volunteering Rewarding in Itself? Economica 75(1): Frey, Bruno S. and Alois Stutzer (2008). Environmental Morale and Motivation. In: Alan Lewis (ed.). The Cambridge Handbook of Psychology and Economic Behaviour. Cambridge, UK: Cambridge University Press: Stutzer, Alois and Bruno S. Frey (2008). Stress That Doesn t Pay: The Commuting Paradox. Scandinavian Journal of Economics 110(2): Luechinger, Simon, Stephan Meier and Alois Stutzer (2008). Bureaucratic Rents and Life Satisfaction. Journal of Law, Economics, and Organization 24(2): Goette, Lorenz, Alois Stutzer, Gürcan Yavuzcan and Beat Frey (2009). Free Cholesterol Testing as a Motivation Device in Blood Donations: Evidence from Natural Field Experiments. Transfusion 49(3): Frey, Bruno S., Simon Luechinger and Alois Stutzer (2009). The Life Satisfaction Approach to Valuing Public Goods: The Case of Terrorism. Public Choice 138(3-4): Huppert, Felicia A., Nic Marks, Andrew Clark, Johannes Siegrist, Alois Stutzer, Joar Vittersø and Morten Wahrendorf (2009). Measuring Well-Being Across Europe: Description of the ESS Wellbeing Module and Preliminary Findings. Social Indicators Research 91(3): Translated and reprinted as: Mesurer le bien-être en Europe: Description du module bien-être ESS et résultats préliminaires. In: Martin-Krumm, Charles and Cyril Tarquinio (eds.). (2011). Traité de psychologie positive. Bruxelles: De Boeck: Lalive, Rafael and Alois Stutzer (2010). Approval of Equal Rights and Gender Differences in Well- Being. Journal of Population Economics 23(3): Luechinger, Simon, Alois Stutzer and Rainer Winkelmann (2010). Self-Selection Models for Public and Private Sector Job Satisfaction. In: Solomon W. Polachek and Konstantinos Tatsiramos (eds.). Jobs, Training and Worker Well-Being. Research in Labor Economics, Volume 30. Bingley, UK: Emerald: Frey, Bruno S. and Alois Stutzer (2010). Happiness and Public Choice. Public Choice 144(3-4): Luechinger, Simon, Stephan Meier and Alois Stutzer (2010). Why Does Unemployment Hurt the Employed? Evidence from the Life Satisfaction Gap between the Public and the Private Sector. Journal of Human Resources 45(4): Braendle, Thomas and Alois Stutzer (2010). Public Servants in Parliament: Theory and Evidence on Its Determinants in Germany. Public Choice 145(1-2): Stutzer, Alois and Bruno S. Frey (2010). Recent Advances in the Economics of Individual Subjective Well-Being. Social Research: An International Quarterly 77(2): Benesch, Christine, Bruno S. Frey and Alois Stutzer (2010). TV Channels, Self Control and Happiness. B.E. Journal of Economic Analysis & Policy 10(1): Article 86. Frey, Bruno S., Simon Lüchinger and Alois Stutzer (2010). The Life Satisfaction Approach to Environmental Valuation. Annual Review of Resource Economics 2:

6 Stutzer, Alois, Lorenz Goette and Michael Zehnder (2011). Active Decisions and Prosocial Behaviour: A Field Experiment in Blood Donation. Economic Journal 121(556): F476-F493. Frey, Bruno S. and Alois Stutzer (2012). The Use of Happiness Research for Public Policy. Social Choice and Welfare 38(4): Stutzer, Alois and Michael Zehnder (2012). Is Camera Surveillance an Effective Measure of Counterterrorism? Forthcoming in Defence and Peace Economics. Other Contributions and Notes Frey, Bruno S. and Alois Stutzer (2000). Des sources du bonheur. Le rôle des institutions démocratiques. Commentaire 23(91): Benz, Matthias, Marcel Kucher and Alois Stutzer (2000). Aktienoptionen für Topmanager Die Möglichkeiten und Grenzen eines Motivationsinstru-ments. In: Bruno S. Frey and Margit Osterloh (eds) Managing Motivation. Wie Sie die neue Motivationsforschung für Ihr Unternehmen nutzen können. Wiesbaden: Gabler: English edition: The Possibilities and Limitations of Stock Options for Top Managers as a Motivational Tool. In: Bruno S. Frey and Margit Osterloh (eds). Successful Management by Motivation: Balancing Intrinsic and Extrinsic Incentives. Organization and Management Innovation Series. Heidelberg and New York: Springer, Frey, Bruno S. and Alois Stutzer (2001). Procedures Matter in Political Economy. Journal of Public Choice and Constitutional Economics 1(2): Frey, Bruno S. and Alois Stutzer (2002). What are the Sources of Happiness. In: Bruno S. Frey. Inspiring Economics: Human Motivation in Political Economy. Cheltenham, UK and Northampton, MA: Edward Elgar: Spanish translation: Cuáles son las fuentes de la felicidad? In: Andrés Roemer (compilador). Felicidad. Un enfoque de derecho y econmía. México: Themis, 2005: Frey, Bruno S. and Alois Stutzer (2002). Prozessnutzen in der Demokratie. In: Manfred Rehbinder and Martin Usteri (eds). Glück als Ziel der Rechtspolitik. Schriften zur Rechtspsychologie 6: Lalive, Rafael and Alois Stutzer (2002). Tiefe Zahlen, hohe Werte. In: Aus der Arbeitswelt. Perspektiven und Analysen. Unimagazin, Die Zeitschrift der Universität Zürich 3: Stutzer, Alois (2004). Where Can the Insights from the Condorcet Jury Theorem Be Applied? In: Anne van Aaken, Christian List, Christoph Luetge (eds). Deliberation and Decision: Economics, Constitutional Theory and Deliberative Democracy. Aldershot: Ashgate: Frey, Bruno S., Luechinger Simon and Alois Stutzer (2005). Wirtschaftliche Auswirkungen des Terrorismus. Die Volkswirtschaft 11: 4-7. Frey, Bruno S. and Alois Stutzer (2005).Ein Vorschlag zu mehr Demokratie in Internationalen Organisationen. Zeitschrift für Staats- und Europawissenschaften 3: Frey, Bruno S. and Alois Stutzer (2006). El poder local. El papel de la democracia directa y del federalismo en el poder local. Madrid: Academia Europea de Ciencias y Artes. 6

7 Stutzer, Alois (2006). Die Kosten des Terrorismus. UNI NOVA Wissenschaftsmagazin der Universität Basel 104: Stutzer, Alois and Bruno S. Frey (2007). Commuting and Life Satisfaction in Germany. Informationen zur Raumentwicklung 2/3: Benz, Matthias and Alois Stutzer (2007). Direct Democracy and Citizens Information about Politics. In: Zoltán Tibor Pállinger, Bruno Kaufmann, Wilfried Marxer and Theo Schiller (eds). Direct Democracy in Europe. Developments and Prospects. Wiesbaden: VS Verlag für Sozialwissenschaften: Frey, Bruno S. and Alois Stutzer (2007). Citizenship and Democracy in International Organizations. In: José Casas Pardo and Pedro Schwartz (eds). Public Choice and the Challenges of Democracy. Aldershot: Edward Elgar: Frey, Bruno S. and Alois Stutzer (2008). Das Glück aus ökonomischer Sicht. In: Beate Hentschel and Gisela Staupe (eds). Glück welches Glück. München: Hanser Verlag, 2008: Frey, Bruno S. and Alois Stutzer (2008). The Thirst for Happiness. Journal of International Business Ethics 1(1): Frey, Bruno S. and Alois Stutzer (2009). Should National Happiness Be Maximized? In: Amitava Krishna Dutt and Benjamin Radcliff (eds.). Happiness, Economics, and Politics: Toward a Multi- Disciplinary Approach. Cheltenham, UK: Edward Elgar: Stutzer, Alois (2009). Happiness When Temptation Overwhelms Willpower. In: Amitava Krishna Dutt and Benjamin Radcliff (eds.). Happiness, Economics, and Politics: Toward a Multi-Disciplinary Approach. Cheltenham, UK: Edward Elgar: Frey, Bruno S. and Alois Stutzer (2009). Ökonomische Analyse des Glücks: Inspirationen und Herausforderungen. Die Unternehmung 3: Reprinted in: Holenstein, André et al. (eds.) (2011). Glück. Bern: Haupt: Frey, Bruno S., Alois Stutzer and Susanne Neckermann (2009). Der Staat als Glücksmaximierer? Zeitschrift für Staats- und Europawissenschaften 7(3-4): Reprinted in: Horst Dreier, Friedrich Wilhelm Graf and Joachim Jens Hesse (eds.). Staatswissenschaften und Staatspraxis. Baden-Baden: Nomos, Stutzer, Alois and Michael Zehnder (2009). Ökonomische Überlegungen zur Kameraüberwachung als Maßnahme gegen den Terrorismus. DIW Vierteljahrshefte zur Wirtschaftsforschung/DIW Quarterly Journals of Economic Research 78(4): Frey, Bruno S. and Alois Stutzer (2010). Glück: Die ökonomische Analyse. In: Erich H. Witte and Tobias Gollan (eds.). Sozialpsychologie und Ökonomie. Lengerich: Pabst: Stutzer, Alois and Lorenz Goette (2010). Blood Donor Motivation: What is Ethical? What Works? ISBT Science Series 5(1): Goette, Lorenz, Alois Stutzer and Beat Frey (2010). Prosocial Motivation and Blood Donations: A Survey of the Empirical Literature. Transfusion Medicine and Hemotherapy 37(3):

8 Stutzer, Alois and Michael Zehnder (2010). Herausforderungen bei der Evaluation von Kameraüberwachung als Präventionsinstrument eine ökonomische Perspektive. In: Christian Schwarzenegger and Rolf Nägeli (eds.). 3. Zürcher Präventionsforum Videoüberwachung als Prävention? Zürich: Schulthess: Frey, Bruno S. and Alois Stutzer (2010). Happiness: A New Approach in Economics. CESifo DICE Report 4: 3-7. Stutzer, Alois and Bruno S. Frey (2010). Happiness and Political Institutions. CESifo DICE Report 4: Frey, Bruno S., Alois Stutzer and Susanne Neckermann (2011). Direct Democracy and the Constitution. In: Alain Marciano (ed.). Constitutional Mythologies. New Perspectives on Controlling the State. Studies in Public Choice 23. New York: Springer: Contributions to Newspapers Stutzer, Alois (1997). Kein Indiz. Leserbrief zu Silvio Bertolami: Noble Schweizer Ökonomen? Weltwoche 47, 20. November 1997: 53. Frey, Bruno S. and Alois Stutzer (1999). Macht direkte Demokratie glücklich? Der Einfluss von demokratischer Mitbestimmung und wirtschaftlicher Situation auf das Lebensglück. Der Zürcher Oberländer, 15. Mai 1999: 3. Lalive d Epinay, Rafael and Alois Stutzer (2003). Gesellschaftlicher Zwang zur Arbeit. NZZ am Sonntag, 19. Januar 2003, 2(3): Luechinger, Simon, Bruno S. Frey and Alois Stutzer (2004). Wirtschaftliche Schäden des Terrorismus. Zerstörte Chancen in Spanien, Israel oder Nordirland. Neue Zürcher Zeitung 134, June 12/13: 29. Stutzer, Alois and Reto Dürsteler (2005). Kinderbetreuung in Krippen Überregulierung. Basler Zeitung, December 2: 32. Luechinger, Simon, Myra Rosinger and Alois Stutzer (2007). Die briefliche Stimmabgabe wirkt mobilisierend. Neue Zürcher Zeitung 178, August 4/5: 16. Luechinger, Simon, Myra Rosinger and Alois Stutzer (2007). Le vote par correspondance a peu augmenté la participation. Le Temps 2899, Septembre 21: 19. Stutzer, Alois (2008). Gutscheine in der Kinderbetreuung. Ökonomisch sinnvolle Instrumente machen noch keine ökonomisch begründete Politik. Neue Zürcher Zeitung 35, February 12: 17. Stutzer, Alois and Michael Zehnder (2009). Ökonomische Überlegungen zur Kameraüberwachung. Zwiespältige Erfahrungen bei Anlagen in urbanen Räumen. Neue Zürcher Zeitung 249, October 27: 31. Book Reviews Frank, Robert H. (1999). Luxury Fever. Why Money Fails to Satisfy in an Era of Excess. New York: The Free Press. In: Kyklos 53(4), 2000:

9 Kemp, Simon (2002). Public Goods and Private Wants. A Psychological Approach to Government Spending. Cheltenham, UK/Northampton, MA: Edward Elgar. In: Journal of Economics 81(1), 2004: Working Papers and Discussion Papers Stutzer, Alois (1999). Demokratieindizes für die Kantone der Schweiz. Working Paper No. 23, Institute for Empirical Research in Economics, University of Zurich. Benz, Matthias, Marcel Kucher and Alois Stutzer (2001). Stock Options: the Managers' Blessing. Institutional Restrictions and Executive Compensation. Working Paper No. 61, Institute for Empirical Research in Economics, University of Zurich. Frey, Bruno S. and Alois Stutzer (2004). The Role of Direct Democracy and Federalism in Local Power. Working Paper No. 209, Institute for Empirical Research in Economics, University of Zurich. Stutzer, Alois and Reto Duersteler (2005). Versagen in der staatlichen Krippenförderung Betreuungsgutscheine als Alternative. CREMA Working Paper No. 26, Basel. Luechinger, Simon, Alois Stutzer and Rainer Winkelmann (2007). The Happiness Gains from Sorting and Matching in the Labor Market. WWZ Discussion Paper No. 0701, University of Basel. Stutzer, Alois (2007). Limited Self-Control, Obesity and the Loss of Happiness. IZA Discussion Paper No. 2925, IZA, Bonn. Frey, Bruno S. and Alois Stutzer (2008). Economic Consequences of Mispredicting Utility. WWZ Discussion Paper No. 01/08, University of Basel. Goette, Lorenz and Alois Stutzer (2008). Blood Donations and Incentives: Evidence from a Field Experiment. WWZ Discussion Paper No. 05/08, University of Basel. Frey, Bruno S. and Alois Stutzer (2009). Policy Consequences of Happiness Research. Mimeo, University of Basel. Braendle Thomas and Alois Stutzer (2010). Political Selection of Public Servants and Parliamentary Oversight. WWZ Discussion Paper No. 08/10, University of Basel. Braendle Thomas and Alois Stutzer (2011). Selection of Public Servants into Politics. WWZ Discussion Paper No. 06/11, University of Basel. Luechinger, Simon, Mark Schelker and Alois Stutzer (2011). Governance, Bureaucratic Rents and Well- Being Differentials Across U.S. States. Mimeo, University of Basel. Hodler, Roland, Simon Luechinger and Alois Stutzer (2012). The Effects of Voting Costs on the Democratic Process and Public Finances. WWZ Discussion Paper 02/12, University of Basel. Hsee, Christopher K., Yuval Rottenstreich and Alois Stutzer (2012). Suboptimal Choices and the Need for Experienced Individual Well-Being in Economic Analysis. IZA DP No. 6346, Bonn: IZA. 9