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Personality, Well-being and Heterogeneous Valuations of Income and Work

Schurer, Stefanie; Yong, Jongsay - Melbourne Institute of Applied Economic and Social … - 2010

Using Australian longitudinal data and a random coefficient approach, this paper investigates whether personality … traits explain the heterogeneity in these valuations. We find that differences in subjective well-being are driven by …

Persistent link: https://www.econbiz.de/10008548742

Personality, well-being and the marginal utility of income: What can we learn from random coefficient models?

Schurer, Stefanie; Yong, Jongsay - School of Economics and Finance, Victoria Business School - 2012

explores whether these forms of heterogeneity depend on the Big-Five personality traits. Using unique Australian longitudinal … multiple forms of heterogeneity. Big-Five personality explains 10 percent of the variation in intercept heterogeneity and 6 … controlling for intercept heterogeneity and identifying effects of time-varying variables. This paper investigates the usefulness …

Persistent link: https://www.econbiz.de/10010904182

What Happiness Research Can Tell Us About Self-Control Problems and Utility

Stutzer, Alois; Frey, Bruno S. - Institute for the Study of Labor (IZA) - 2006

Neoclassical economic theory rules out systematic errors in consumption choice. According to the basic view, individuals know what they choose. They are able to predict how much utility an activity or a good produces for them now and in the future and they can maximize their utility. This...

Persistent link: https://www.econbiz.de/10005703642

What Happiness Research Can Tell Us About Self-Control Problems And Utility Misprediction

Stutzer, Alois; Frey, Bruno S. - Institut für Volkswirtschaftslehre, … - 2006

Persistent link: https://www.econbiz.de/10005627976

Two explanations to the willingness to accept and willingness to pay gap plus an alternative

Beja Jr, Edsel - Volkswirtschaftliche Fakultät, … - 2012

The gap between the willingness to accept and willingness to pay is the outcome of incomplete valuation. The problem therefore is more about completing the valuation procedure. The first part of the solution involves two items: one is the inclusion of the direct and indirect income effects and...

Persistent link: https://www.econbiz.de/10009647256

What do happy people choose: rapid economic growth or stable economy?

Beja Jr., Edsel L. - Volkswirtschaftliche Fakultät, … - 2012

How SWB affects individual states, outcomes, or decisions is well established in the literature, but how it affects macroeconomic states, outcomes, or decisions remains an open empirical question. This paper focuses on the public policy issue of economic progress defined as either rapid economic...

Persistent link: https://www.econbiz.de/10011110145

Sundays Are Blue: Aren’t They? - The Day-of-the-Week Effect on Subjective Well-Being and Socio-Economic Status

Akay, Alpaslan; Martinsson, Peter - Nationalekonomiska institutionen, Handelshögskolan - 2009

This paper analyses whether individuals are influenced by the day of the week when reporting subjective well-being. By using a large panel data set and controlling for observed and unobserved individual characteristics, we find a large day-of the-week effect. Overall, we find a ‘blue’ Sunday...

Persistent link: https://www.econbiz.de/10008496442

Income Distribution and Subjective Happiness: A Survey

Senik, Claudia - Directorate for Employment, Labour and Social Affairs … - 2009

This survey summarises the insights that the new literature based on subjective data has shed on the issue of income inequality and income comparisons. It reviews the various channels that relate income distribution and subjective well-being. It considers the welfare effect of income gaps in...

Persistent link: https://www.econbiz.de/10008497892

Human Well-Being over the Life Cycle: Longitudinal Evidence from a 20-Year Panel

Landeghem, Bert G.M. Van - LICOS Centre for Institutions and Economic Performance, … - 2008

This paper uses longitudinal data from the German Socioeconomic Panel (GSOEP) to analyze the course of subjective well-being over the life cycle. The long time dimension offers an opportunity to disentangle ageing effects from fixed birth co- hort effects. The paper _finds that the U-shaped...

Persistent link: https://www.econbiz.de/10005163370

Zukunftsangst! Fear of (and Hope for) the Future and Its Impact on Life Satisfaction

Piper, Alan - Forschungsbasierte Infrastruktureinrichtung … - 2014

or negative direction. This is a result found via five different methods, some of which control for personality and …

Persistent link: https://www.econbiz.de/10011185790