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The Anatomy of Subjective Well-Being

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Author Info

  • Bernard M. S. van Praag
  • P. Frijters
  • Ada Ferrer-i-Carbonell

Abstract

Subjective Well-Being has increasingly been studied by several economists. This paper fits in that literature but takes into account that there are different aspects of life such as health, financial situation, and job. We call them domains. In this paper, we consider Subjective Well-Being as a composite of various domain satisfactions (DS). We postulate a two -layer model where individual Subjective Well-Being is explained by individual subjective domain satisfactions with respect to job, finance, health, leisure, housing, and environment. We distinguish between long -term and short - term effects. Next, we explain domain satisfactions and Subjective Well-Being by objectively measurable variables such as income. We estimate a model for the GS and DS equations with individual random effects and fix time effects.

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File URL: http://www.diw.de/documents/publikationen/73/diw_01.c.38602.de/dp265.pdf
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Bibliographic Info

Paper provided by DIW Berlin, German Institute for Economic Research in its series Discussion Papers of DIW Berlin with number 265.

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Length: 42 p.
Date of creation: 2001
Date of revision:
Handle: RePEc:diw:diwwpp:dp265

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Related research

Keywords: Subjective Well-Being; satisfaction measurement; qualitative regressors; health satisfaction; job satisfaction;

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References

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  1. Groot, Wim & Maassen van den Brink, Henriette, 1999. "Job satisfaction and preference drift1," Economics Letters, Elsevier, vol. 63(3), pages 363-367, June.
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  3. Jennifer Hunt, 2000. "Why Do People Still Live in East Germany?," NBER Working Papers 7564, National Bureau of Economic Research, Inc.
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  8. Andrew Clark, . "Job Satisfaction and Gender. Why are Women so Happy at Work?," Economics Discussion Papers 415, University of Essex, Department of Economics.
  9. Winkelmann, Liliana & Winkelmann, Rainer, 1998. "Why Are the Unemployed So Unhappy? Evidence from Panel Data," Economica, London School of Economics and Political Science, vol. 65(257), pages 1-15, February.
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  12. Armin Falk & Markus Knell, . "Choosing the Joneses On the Endogeneity of Reference Groups," IEW - Working Papers 053, Institute for Empirical Research in Economics - University of Zurich.
  13. McBride, Michael, 2001. "Relative-income effects on subjective well-being in the cross-section," Journal of Economic Behavior & Organization, Elsevier, vol. 45(3), pages 251-278, July.
  14. Menno Pradhan & Martin Ravallion, 2000. "Measuring Poverty Using Qualitative Perceptions Of Consumption Adequacy," The Review of Economics and Statistics, MIT Press, vol. 82(3), pages 462-471, August.
  15. Hunt, Jennifer, 1999. "Determinants of Non-Employment and Unemployment Durations in East Germany," CEPR Discussion Papers 2182, C.E.P.R. Discussion Papers.
  16. Ada Ferrer-i-Carbonell & Bernard M.S. van Praag, 2002. "The Subjective Costs of Health Losses due to Chronic Diseases," Tinbergen Institute Discussion Papers 02-023/3, Tinbergen Institute.
  17. Mark B. Stewart, 1982. "On Least Squares Estimation When the Dependent Variable is Grouped," Working Papers 539, Princeton University, Department of Economics, Industrial Relations Section..
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  19. Bernard M.S. van Praag & Paul Frijters, 1999. "The measurement of welfare and well-being; the Leyden approach," School of Economics and Finance Discussion Papers and Working Papers Series 071a, School of Economics and Finance, Queensland University of Technology.
  20. Mundlak, Yair, 1978. "On the Pooling of Time Series and Cross Section Data," Econometrica, Econometric Society, vol. 46(1), pages 69-85, January.
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  22. Bernard M.S. van Praag & B.E. Baarsma, 2001. "The Shadow Price of Aircraft Noise Nuisance," Tinbergen Institute Discussion Papers 01-010/3, Tinbergen Institute.
  23. Van Praag, Bernard, 1971. "The welfare function of income in Belgium: An empirical investigation," European Economic Review, Elsevier, vol. 2(3), pages 337-369.
  24. Bruno S. Frey & Alois Stutzer, 1999. "Measuring Preferences by Subjective Well-Being," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 155(4), pages 755-778, December.
  25. Easterlin, Richard A., 2001. "Subjective well-being and economic analysis: a brief introduction," Journal of Economic Behavior & Organization, Elsevier, vol. 45(3), pages 225-226, July.
  26. Breslaw, Jon A. & McIntosh, James, 1998. "Simulated latent variable estimation of models with ordered categorical data," Journal of Econometrics, Elsevier, vol. 87(1), pages 25-47, August.
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  30. Terza, Joseph V., 1987. "Estimating linear models with ordinal qualitative regressors," Journal of Econometrics, Elsevier, vol. 34(3), pages 275-291, March.
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