A1581
Title: Measuring Happiness Efficiency during the COVID-19 Pandemic in Japan
Authors: Hideyuki Mizobuchi - Doshisha University (Japan) [presenting]
Abstract: This study examines how effectively individuals convert their resources into subjective well-beinga concept referred to as happiness efficiencyduring the COVID-19 pandemic in Japan. Using representative longitudinal data from 2020 to 2023, we first estimate individual-level happiness efficiency on an annual basis. We then analyze its determinants using the conditional efficiency score. Our findings show that the year effect was negative in the first year of the pandemic but turned positive in the following years. The accumulated positive effects outweighed the initial negative impact. This suggests that although individuals initially experienced an unusual decline in well-being due to behavioral restrictions and fear associated with the outbreak of a novel virus they quickly adapted by learning to better utilize their socio-economic circumstances. As a result, their ability to sustain subjective well-being during the pandemic ultimately surpassed pre-pandemic levels. These findings highlight the dynamic nature of well-being under crisis conditions and underscore the importance of individual adaptability in mitigating the adverse effects of external shocks.
