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This paper applies semiparametric regression models using penalized splines to investigate the profile of well-being over the life span. Using data from the British Household Panel Survey (BHPS) and the German Socio-Economic Panel Study (SOEP), the analysis shows a common, and quite similar,...
Persistent link: https://www.econbiz.de/10011010028
This paper introduces a simple model to estimate the dynamic adjustment of subjective well-being that results from an updating of expectations in response to changing circumstances. Empirical evidence indicates that adjustment takes place within a relatively short window of time.
Persistent link: https://www.econbiz.de/10010594149
A huge cross-section literature, written by economists and others, argues that human well-being is U-shaped through the life cycle. In many cases this U-shape is robust (with a well-known exception the pattern evident in some U.S. data sets if few independent variables are included). However, a...
Persistent link: https://www.econbiz.de/10010573091
In this paper we provide estimates of the coefficient of relative risk aversion using information on self-reports of subjective personal well-being from multiple datasets, including three cross-sectional surveys and two panel surveys, namely the Gallup World Poll, the European Social Survey, the...
Persistent link: https://www.econbiz.de/10011051396
Economics implicitly assumes that the marginal utility of income is independent of an individual's personality. We show … that this is wrong. This is the first demonstration that there are strong personality–income interactions. In an analysis … use of financial incentives to influence behavior. In the future, public policy may benefit from being personality-specific. …
Persistent link: https://www.econbiz.de/10010576948
This article holds the view that intertemporal comparisons of subjective well-being measures are only meaningful when the underlying standards of judgment are unaltered. This is a weak point of such measures. The study investigates the change in the satisfaction judgments resulting from...
Persistent link: https://www.econbiz.de/10008611486
This paper deals with the relationship between subjective well-being and ageing in the German Socio-Economic Panel (SOEP). The baseline results confirm the U-shaped relationship between life satisfaction and age, which has been found in many case studies by economists and others. Furthermore,...
Persistent link: https://www.econbiz.de/10008611497
expectations. Some evidence of micro-heterogeneity in the prediction errors is found by age and education. For West Germans, we …
Persistent link: https://www.econbiz.de/10008626002
Recent studies showed that self-employment impacts individual happiness either positively or negatively. Rather than considering the happiness effects at the individual level, we assess whether self-employment effects spread and impact the domestic happiness beyond the involved individuals. We...
Persistent link: https://www.econbiz.de/10010580761
Data in the European Community Household Panel are used to analyse the impact on self-reported satisfaction from a number of economic and demographic variables. The paper contributes to the ongoing discussion of the relationship between life satisfaction and income utilizing also the panel...
Persistent link: https://www.econbiz.de/10010573947