Abstract
Based on insights from psychology, we argue that individual well-being has two incommensurable dimensions, gratification and flourishing. We provide a model in which the individual's vitality is tunneled to different goals/practices. Gratification is represented by discharge of flow, while flourishing corresponds to generated power. The two dimensions are correlated in a way that depends on the characteristics of the available goals/practices, and their relationship need not be monotonic. We also extend the model to social interaction, prove existence of an equilibrium and show the possibility of 'flourishing traps'.
Original language | English |
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Article number | 20180162 |
Journal | B.E. Journal of Theoretical Economics |
Volume | 20 |
Issue number | 1 |
DOIs | |
State | Published - 1 Jan 2020 |
Bibliographical note
Publisher Copyright:© 2019 Walter de Gruyter GmbH, Berlin/Boston.
Keywords
- flourishing
- flourishing trap
- flow
- gratification
- social network