ABSTRACT
Having looked at how people behave, and why, we shall now start to look at the welfare and policy implications of that behavior. The basic question I want us to look at in this chapter is whether people make the economic choices that will give them greatest satisfaction and happiness, and if not would they rather someone else make choices for them? To answer that question we need to know what makes people happy, whether people know what makes them happy, and how much people value choice. In the next chapter we shall make the logical next step in asking what role policy can play.
