How much should you pay for a pet? A rescue cat might be given away for free. A pedigreePure-bred.  SamoyedA medium-sized herding dog with thick, white fur. They were bred in Siberia. might cost over £10,000.¹ But even that is cheap, according to new research that calculates the value of having a pet.

Economists looked at data from 2,500 British households. They found that living with a pet improved life satisfaction by three or four points on a scale of one to seven. This is, they say, the same amount of pleasure as earning an extra £70,000 a year.²

It is also an equivalent mood boost to a single person who gets married. According to Dr Adelina Gschwandtner, the lead author of the new study: "I suspect that many people do not actually realise how important their pets are for them."³

Journalist Katie Glass agrees. She thinks that living with a dog is much better than living with a man. Her dog Bear is "never snappy, in a bad mood or stressed about work".⁴ They do not argue about politics or disagree about what to watch on television. Also, Bear loves her unconditionally - although he rarely helps with bills or the housework.

There are other benefits from owning pets. Surveys have shown that stroking animals can reduce people's levels of the stress hormoneChemicals carried in the bloodstream that alter the way your body's systems act.  cortisol. This in turn improves blood pressure and even makes them less likely to suffer from depressionLow mood that affects someone's daily life, and can last for weeks or months.. Regular dog walkers have better cardiovascularRelating to the heart and blood vessels. health, while cat owners have a lower risk of allergies.⁵

Therapy pets are already used in schools, care homes and offices to help with general wellbeing. Some believe that as looking after animals has so many health benefits, politicians should try to encourage pet ownership. For instance, they could remove the limits on keeping pets in rented accommodation, or give people tax incentives for adopting animals.

Not everyone agrees. Journalist Melanie McDonagh worries about people who substitute human affection for animals, like the celebrated designer Karl Lagerfeld, who left most of his fortune to his cat, Coupette. She also thinks that treating dogs like babies - dressing them in outfits and wheeling them round in prams - is "creepy, wasteful and warped".⁶

Others worry about the ethics of owning pets. Animals in homes are often subject to boredom, confinement, monotonous diets and mutilations like spaying or tail dockingThe practice of surgically removing all or most of an animal's tail. . Some pets also experience neglect and abuse, with few of the legal protections that keep children safe.

According to bioethicist Jessica Pierce, domestic animals were originally raised to work alongside humans as hunters or guards. But now we expect pets to be docile and agreeable, and adapt to the rules of the human world. As Pierce points out: "Doing nothing but lying on a bed and having treats fed to you is profoundly frustrating and boring".⁷

Maybe owning pets improves human wellbeing, but causes the animal to suffer. Others insist that surely the loving bonds that exist between pets and their owners can make both parties happy. They might not be a substitute for family or friends, but they are still a wonderful addition.

Is a cat better than a partner?

Yes: Pets love people unconditionally. They do not judge whether someone is rich or poor, young or old, messy or clean. No wonder they bring humans so much happiness.

No: A dog or cat cannot drive someone to the airport, help with their bills and housework, or understand their deepest hopes and dreams. The best pet is still just an animal.

Or... Pets and people are wonderful things: a rich life surely contains both. Economists may try to measure happiness, but there is no need to choose between them.

Pedigree - Pure-bred. 

Samoyed - A medium-sized herding dog with thick, white fur. They were bred in Siberia.

Hormone - Chemicals carried in the bloodstream that alter the way your body's systems act. 

Depression - Low mood that affects someone's daily life, and can last for weeks or months.

Cardiovascular - Relating to the heart and blood vessels.

Tail docking - The practice of surgically removing all or most of an animal's tail.