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Was Brexit Caused by the Unhappy and the Old?

Was Brexit Caused by the Unhappy and the Old?

342/2017 Federica Liberini, Andrew J Oswald, Eugenio Proto and Michela Redoano
behavioural economics and wellbeing, working papers
Journal of Economic Behavior & Organization
https://doi.org/10.1016/j.jebo.2019.03.024

342/2017 Federica Liberini, Andrew J Oswald, Eugenio Proto and Michela Redoano

On 23 June 2016, the United Kingdom voted to leave the European Union (so-called ‘Brexit’). This paper uses newly released information, from the Understanding Society data set, to examine the characteristics of individuals who were for and against Brexit. Two new findings emerge. First, unhappy feelings contributed to Brexit. However, contrary to commonly heard views, the key channel of influence was not through general dissatisfaction with life. It was through a person’s narrow feelings about his or her own financial situation. Second, despite some commentators’ guesses, Brexit was not caused by old people. Only the very young were substantially pro-Remain.

Behavioural Economics and Wellbeing

Journal of Economic Behavior & Organization

https://doi.org/10.1016/j.jebo.2019.03.024