Dynamics of contentment.
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| Title: | Dynamics of contentment. |
|---|---|
| Authors: | Burluka, A.A.1 (AUTHOR) alexey.burluka@northumbria.ac.uk |
| Source: | Physica D. Dec2021, Vol. 427, pN.PAG-N.PAG. 1p. |
| Subjects: | Contentment, Life satisfaction, Wealth tax, Evolution equations, Integral representations |
| Abstract: | This work formulates a mathematical model aimed at prediction of temporal evolution of joint probability density of wealth and contentment in a society. A continuous variable changing between 0 and 1 is introduced to characterise contentment, or satisfaction with life, of an individual and an equation governing its evolution is postulated from analysis of several factors likely to affect the contentment. As contentment is strongly affected by material well-being, a similar equation is formulated for wealth of an individual. Subsequently, an evolution equation for the joint probability density of individuals' wealth and contentment within a society is derived from these two equations and an integral representation of marriage effects. As an illustration of this model capabilities, effects of the wealth tax rate over a long period of time are simulated for a society with an initially low variation of wealth and contentment: the model predicts that a higher taxation in the longer run may lead to a wealthier and more content society. It is also shown that lower rates of the wealth tax lead to pronounced stratification of the society in terms of both wealth and contentment and that there is no direct relationship between the average values of the latter two variables thus providing an explanation to the Easterlin paradox. • Contentment is described as a continuous variable changing between 0 and 1. • Equations for temporal evolution of individual wealth and contentment are formulated. • An equation is derived for probability density of wealth and contentment in a society. • The model gives a quantitative description of the Easterlin paradox. • It is shown that a higher wealth tax may lead to a wealthier and more content society. [ABSTRACT FROM AUTHOR] |
| Copyright of Physica D is the property of Elsevier B.V. and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.) | |
| Database: | Engineering Source |
| FullText | Text: Availability: 0 |
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| Header | DbId: egs DbLabel: Engineering Source An: 152765941 AccessLevel: 6 PubType: Academic Journal PubTypeId: academicJournal PreciseRelevancyScore: 0 |
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| Items | – Name: Title Label: Title Group: Ti Data: Dynamics of contentment. – Name: Author Label: Authors Group: Au Data: <searchLink fieldCode="AR" term="%22Burluka%2C+A%2EA%2E%22">Burluka, A.A.</searchLink><relatesTo>1</relatesTo> (AUTHOR)<i> alexey.burluka@northumbria.ac.uk</i> – Name: TitleSource Label: Source Group: Src Data: <searchLink fieldCode="JN" term="%22Physica+D%22">Physica D</searchLink>. Dec2021, Vol. 427, pN.PAG-N.PAG. 1p. – Name: Subject Label: Subjects Group: Su Data: <searchLink fieldCode="DE" term="%22Contentment%22">Contentment</searchLink><br /><searchLink fieldCode="DE" term="%22Life+satisfaction%22">Life satisfaction</searchLink><br /><searchLink fieldCode="DE" term="%22Wealth+tax%22">Wealth tax</searchLink><br /><searchLink fieldCode="DE" term="%22Evolution+equations%22">Evolution equations</searchLink><br /><searchLink fieldCode="DE" term="%22Integral+representations%22">Integral representations</searchLink> – Name: Abstract Label: Abstract Group: Ab Data: This work formulates a mathematical model aimed at prediction of temporal evolution of joint probability density of wealth and contentment in a society. A continuous variable changing between 0 and 1 is introduced to characterise contentment, or satisfaction with life, of an individual and an equation governing its evolution is postulated from analysis of several factors likely to affect the contentment. As contentment is strongly affected by material well-being, a similar equation is formulated for wealth of an individual. Subsequently, an evolution equation for the joint probability density of individuals' wealth and contentment within a society is derived from these two equations and an integral representation of marriage effects. As an illustration of this model capabilities, effects of the wealth tax rate over a long period of time are simulated for a society with an initially low variation of wealth and contentment: the model predicts that a higher taxation in the longer run may lead to a wealthier and more content society. It is also shown that lower rates of the wealth tax lead to pronounced stratification of the society in terms of both wealth and contentment and that there is no direct relationship between the average values of the latter two variables thus providing an explanation to the Easterlin paradox. • Contentment is described as a continuous variable changing between 0 and 1. • Equations for temporal evolution of individual wealth and contentment are formulated. • An equation is derived for probability density of wealth and contentment in a society. • The model gives a quantitative description of the Easterlin paradox. • It is shown that a higher wealth tax may lead to a wealthier and more content society. [ABSTRACT FROM AUTHOR] – Name: AbstractSuppliedCopyright Label: Group: Ab Data: <i>Copyright of Physica D is the property of Elsevier B.V. and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract.</i> (Copyright applies to all Abstracts.) |
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| RecordInfo | BibRecord: BibEntity: Identifiers: – Type: doi Value: 10.1016/j.physd.2021.133012 Languages: – Code: eng Text: English PhysicalDescription: Pagination: PageCount: 1 StartPage: N.PAG Subjects: – SubjectFull: Contentment Type: general – SubjectFull: Life satisfaction Type: general – SubjectFull: Wealth tax Type: general – SubjectFull: Evolution equations Type: general – SubjectFull: Integral representations Type: general Titles: – TitleFull: Dynamics of contentment. Type: main BibRelationships: HasContributorRelationships: – PersonEntity: Name: NameFull: Burluka, A.A. IsPartOfRelationships: – BibEntity: Dates: – D: 01 M: 12 Text: Dec2021 Type: published Y: 2021 Identifiers: – Type: issn-print Value: 01672789 Numbering: – Type: volume Value: 427 Titles: – TitleFull: Physica D Type: main |
| ResultId | 1 |
