We couldn’t be prouder to see our Dr Adelina Gschwandtner front and centre on the front page of The Times. It’s a huge moment that highlights just how timely her research on happiness economics really is – especially as it’s National Pet Day this Friday!
Economists, including Dr Gschwandtner, have calculated that the psychological benefits of pet ownership are roughly equivalent to those gained from marriage. They also concluded that the improvement in mood was on a par with what you would expect to see from somebody receiving an extra £70,000 in annual income.
The research drew on data collected from 2,500 British households, selected to be representative of the country as a whole. The authors found that living with a pet companion was linked to an increase in life satisfaction of 3-4 points,
“Many people don’t realise how important their pets are for them.”
Dr Adelina Gschwandtner, Senior Lecturer in Economics
Read Rhys Blakely’s whole article here!