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Subjective Measures of Economic Well-Being and the Influence of Income Uncertainty

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Author Info
Johannes Schwarze
Abstract

This paper provides evidence that subjective measures of individual well being can be used to study the impact of income uncertainty from an ex ante point of view. Two different measures of subjective well being are under study: Satisfaction with household income and the income evaluation question as developed by Van Praag. It can be shown that satisfaction with income is more affected by ex ante than by ex post volatility of income. The ordinal version of the Van Praag approach might be biased if income uncertainty is essential. The paper was written in 1994.

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File URL: http://www.diw.de/documents/publikationen/73/diw_01.c.92812.de/diw_sp0149.pdf
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Paper provided by DIW Berlin, The German Socio-Economic Panel (SOEP) in its series SOEPpapers with number 149.

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Length: 23 p.
Date of creation: 2008
Date of revision:
Handle: RePEc:diw:diwsop:diw_sp149

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Related research
Keywords: Income uncertainty; subjective well-being; satisfaction; income evaluation;

Find related papers by JEL classification:
C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data
D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
I31 - Health, Education, and Welfare - - Welfare and Poverty - - - General Welfare

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This page was last updated on 2009-12-15.

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