We propose an extension of the standard occupational choice model to analyze the life satisfaction of senior entrepreneurs as compared to paid employees and particularly retirees in Germany. The analysis identifies income and health status as main factors that shape the relationship between...

Sociological research is increasingly using panel data to examine changes in diverse outcomes over life course events. Most of these studies have one striking similarity: they analyse changes between yearly time intervals. In this paper, we present a simple but effective method to model such...