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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
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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
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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
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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
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What happiness research can tell us about self-control problems and utility misprediction
Stutzer, Alois; Frey, Bruno S. - 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/10010267422
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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
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What Happiness Research Can Tell Us About Self-Control Problems And Utility Misprediction
Stutzer, Alois; Frey, Bruno S. - Institut für Volkswirtschaftslehre, … - 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/10005627976
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Well-Being over the Life Span: Semiparametric Evidence from British and German Longitudinal Data
Wunder, Christoph; Wiencierz, Andrea; Schwarze, Johannes; … - In: The Review of Economics and Statistics 95 (2013) 1, pp. 154-167
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
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The Anatomy of Subjective Well-being
Praag, Bernard M.S. van; Frijters, P.; … - Tinbergen Instituut - 2002
This paper contributes to the literature on subjective well-being (SWB) by taking into account different aspects of life, called domains, such as health, financial situation, job, leisure, housing, and environment. We postulate a two-layer model where individual total SWB depends on the...
Persistent link: https://www.econbiz.de/10011257056
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Ambition and jealousy. Income Interactions in the "old" Europe versus The "New" Europe and the United States
Senik, Claudia - Centre pour la Recherche Économique et ses … - 2005
This paper asks how income distribution affects individual well-being and tries to explore the idea that this relation depends on the degree of mobility and uncertainty in the economy. It mostly concentrates on the relation between satisfaction and reference income (defined as the income of...
Persistent link: https://www.econbiz.de/10008876150