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Does satisfaction matter? A microeconomic empirical analysis of the effect of social relations on economic welfare

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  • Degli Antoni, Giacomo

Abstract

The paper studies the effect of social relations on individual economic welfare by explicitly considering the qualitative aspect of relations that characterize the social structure of personal contacts. It argues that important information is lost if only the density of the social network is considered. This proposition is tested using microdata representative of the entire Italian population. Two proxies for interpersonal relations at an individual level are considered: the number of voluntary associations joined and the satisfaction gained from relationships with friends. Both seem to have a positive effect on two indices of household economic welfare: a subjective index and an objective one. The subjective index is based on both the subjects' personal assessment of their household general economic situation and financial difficulties in meeting certain expenditures. The objective index is calculated from objective data on the household's economic situation. The empirical results prove robust on considering a variety of control variables and using different econometric methods.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics).

Volume (Year): 38 (2009)
Issue (Month): 2 (March)
Pages: 301-309

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Handle: RePEc:eee:soceco:v:38:y:2009:i:2:p:301-309

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Web page: http://www.elsevier.com/locate/inca/620175

Related research

Keywords: Social relations Household economic welfare Microdata Social networks;

References

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Citations

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Cited by:
  1. Sabatini, Fabio & Sarracino, Francesco, 2014. "Online networks and subjective well-being," MPRA Paper 56436, University Library of Munich, Germany.
  2. Antoci, Angelo & Sabatini, Fabio & Sodini, Mauro, 2014. "Online and offline social participation and social poverty traps. Can social networks save human relations?," MPRA Paper 55703, University Library of Munich, Germany.
  3. Sabatini, F;, 2011. "The relationship between happiness and health: evidence from Italy," Health, Econometrics and Data Group (HEDG) Working Papers, HEDG, c/o Department of Economics, University of York 11/07, HEDG, c/o Department of Economics, University of York.
  4. Sabatini Fabio, 2011. "Who trusts Berlusconi? An econometric analysis of the role of television in the political arena," wp.comunite 0075, Department of Communication, University of Teramo.
  5. Fabio Zagonari, 2011. "Which Ethics Will Make us Individually and Socially Happier? A Cross-Culture and Cross-Development Analytical Model," Journal of Happiness Studies, Springer, Springer, vol. 12(1), pages 77-103, March.
  6. Giacomo Degli Antoni, 2009. "Motivations to volunteer and social capital: the role of intrinsic motivations in promoting networks of cooperative relations," Econometica Working Papers wp06, Econometica.
  7. Francesca Modena, 2009. "Under the Social Capital Umbrella. Definition and Measurement," Openloc Working Papers, Public policies and local development 0911, Public policies and local development.
  8. Sabatini, Fabio, 2011. "Democracy or videocracy? An econometric analysis of the role of television in the Italian political arena," MPRA Paper 31117, University Library of Munich, Germany.

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