“Men are so devastated by the break up of a marriage that it feels as though they have lost £61,500.
For women, however, the pain is less traumatic – and leaves them feeling as if they had lost only a measly £5,000.”
I had to wonder about this. I couldn’t find the paper in question on Paul Frijters’ website, but I flipped through one of his other papers from this line of research. The clever way they go about making these estimates allows you to identify the ‘momentary impact’ of an event, separate from the build-up and fade-out. In other words, the effect of divorce as an event in time, distinct from marital resentment and other sources of dissatisfaction in the lead-up to the ‘event’ of divorce.
Interesting stuff, though it probably won’t do much to combat the stereotypes of economists:
“So, what do you do for a living?”
— “Oh, I put dollar values on the joy of birth and the misery of death.”