IDEAS home Printed from https://ideas.repec.org/p/eti/dpaper/22108.html
   My bibliography  Save this paper

How Much Is It Worth Not Being Alone? An empirical evaluation of social support using the life satisfaction approach in Japan

Author

Listed:
  • YODO Masato
  • UCHIDA Atsuhiko

Abstract

This study attempts to clarify the monetary value of social support, the importance of which is becoming widely recognized in the context of the global spread of COVID-19. Using the Life Satisfaction Approach and data obtained from a nationwide survey in Japan, we estimated that the monetary value of social support can be as high as the average household consumption expenditure for one year, and that the value of life satisfaction gained by providing social support to elderly people who live alone and who do not receive social support can be more than 1 trillion yen. These results suggest that the value of social support is high, and that significant social benefits might accrue from policy-based promotion of social support provision.

Suggested Citation

  • YODO Masato & UCHIDA Atsuhiko, 2022. "How Much Is It Worth Not Being Alone? An empirical evaluation of social support using the life satisfaction approach in Japan," Discussion papers 22108, Research Institute of Economy, Trade and Industry (RIETI).
    • Handle: RePEc:eti:dpaper:22108
    as

    Download full text from publisher

    File URL: https://www.rieti.go.jp/jp/publications/dp/22e108.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Dolan, Paul & Metcalf, Robert, 2008. "Comparing willingness-to-pay and subjective well-being in the context of non-market goods," LSE Research Online Documents on Economics 28504, London School of Economics and Political Science, LSE Library.
    2. Daniel Kuehnle & Christoph Wunder, 2016. "Using the Life Satisfaction Approach to Value Daylight Savings Time Transitions: Evidence from Britain and Germany," Journal of Happiness Studies, Springer, vol. 17(6), pages 2293-2323, December.
    3. Simon Luechinger, 2009. "Valuing Air Quality Using the Life Satisfaction Approach," Economic Journal, Royal Economic Society, vol. 119(536), pages 482-515, March.
    4. Paul Dolan & Robert Metcalfe, 2008. "Comparing Willingness-to-Pay and Subjective Well-Being in the Context of Non-Market Goods," CEP Discussion Papers dp0890, Centre for Economic Performance, LSE.
    5. Karen Siedlecki & Timothy Salthouse & Shigehiro Oishi & Sheena Jeswani, 2014. "The Relationship Between Social Support and Subjective Well-Being Across Age," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 117(2), pages 561-576, June.
    6. Rehdanz, Katrin & Maddison, David, 2005. "Climate and happiness," Ecological Economics, Elsevier, vol. 52(1), pages 111-125, January.
      • Katrin Rehdanz & David J. Maddison, 2003. "Climate and Happiness," Working Papers FNU-20, Research unit Sustainability and Global Change, Hamburg University, revised Apr 2003.
    7. Bernard M. S. van Praag & Barbara E. Baarsma, 2005. "Using Happiness Surveys to Value Intangibles: The Case of Airport Noise," Economic Journal, Royal Economic Society, vol. 115(500), pages 224-246, January.
    8. Feng Kong & Xinyu Gong & Sonia Sajjad & Kairong Yang & Jingjing Zhao, 2019. "How Is Emotional Intelligence Linked to Life Satisfaction? The Mediating Role of Social Support, Positive Affect and Negative Affect," Journal of Happiness Studies, Springer, vol. 20(8), pages 2733-2745, December.
    9. Masanori Kuroki, 2013. "Crime Victimization and Subjective Well-Being: Evidence from Happiness Data," Journal of Happiness Studies, Springer, vol. 14(3), pages 783-794, June.
    10. Heinz Welsch, 2002. "Preferences over Prosperity and Pollution: Environmental Valuation based on Happiness Surveys," Kyklos, Wiley Blackwell, vol. 55(4), pages 473-494, November.
    11. Brereton, Finbarr & Clinch, J. Peter & Ferreira, Susana, 2008. "Happiness, geography and the environment," Ecological Economics, Elsevier, vol. 65(2), pages 386-396, April.
    12. Welsch, Heinz, 2006. "Environment and happiness: Valuation of air pollution using life satisfaction data," Ecological Economics, Elsevier, vol. 58(4), pages 801-813, July.
    13. Bruno S. Frey & Simon Luechinger & Alois Stutzer, 2010. "The Life Satisfaction Approach to Environmental Valuation," Annual Review of Resource Economics, Annual Reviews, vol. 2(1), pages 139-160, October.
    14. Luechinger, Simon, 2010. "Life satisfaction and transboundary air pollution," Economics Letters, Elsevier, vol. 107(1), pages 4-6, April.
    15. Guoping Song & Feng Kong & Weitao Jin, 2013. "Mediating Effects of Core Self-Evaluations on The Relationship Between Social Support and Life Satisfaction," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 114(3), pages 1161-1169, December.
    16. Dolan, Paul & Peasgood, Tessa & White, Mathew, 2008. "Do we really know what makes us happy A review of the economic literature on the factors associated with subjective well-being," Journal of Economic Psychology, Elsevier, vol. 29(1), pages 94-122, February.
    17. Michael Shields & Stephen Wheatley Price & Mark Wooden, 2009. "Life satisfaction and the economic and social characteristics of neighbourhoods," Journal of Population Economics, Springer;European Society for Population Economics, vol. 22(2), pages 421-443, April.
    18. Luechinger, Simon & Raschky, Paul A., 2009. "Valuing flood disasters using the life satisfaction approach," Journal of Public Economics, Elsevier, vol. 93(3-4), pages 620-633, April.
    19. Bruno Frey & Simon Luechinger & Alois Stutzer, 2009. "The life satisfaction approach to valuing public goods: The case of terrorism," Public Choice, Springer, vol. 138(3), pages 317-345, March.
    20. Paul Hudson & W. J. Wouter Botzen & Jennifer Poussin & Jeroen C. J. H. Aerts, 2019. "Impacts of Flooding and Flood Preparedness on Subjective Well-Being: A Monetisation of the Tangible and Intangible Impacts," Journal of Happiness Studies, Springer, vol. 20(2), pages 665-682, February.
    21. Welsch, Heinz, 2002. "Preferences over Prosperity and Pollution: Environmental Valuation Based on Happiness Surveys," Kyklos, Wiley Blackwell, vol. 55(4), pages 473-494.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. García-Mainar, Inmaculada & Montuenga, Víctor M. & Navarro-Paniagua, María, 2015. "Workplace environmental conditions and life satisfaction in Spain," Ecological Economics, Elsevier, vol. 119(C), pages 136-146.
    2. Ambrey, Christopher L. & Fleming, Christopher M., 2011. "Valuing scenic amenity using life satisfaction data," Ecological Economics, Elsevier, vol. 72(C), pages 106-115.
    3. Ferreira, Susana & Akay, Alpaslan & Brereton, Finbarr & Cuñado, Juncal & Martinsson, Peter & Moro, Mirko & Ningal, Tine F., 2013. "Life satisfaction and air quality in Europe," Ecological Economics, Elsevier, vol. 88(C), pages 1-10.
    4. Ambrey, Christopher L. & Fleming, Christopher M., 2011. "Valuing Ecosystem Diversity in South East Queensland: A Life Satisfaction Approach," 2011 Conference, August 25-26, 2011, Nelson, New Zealand 115347, New Zealand Agricultural and Resource Economics Society.
    5. Beckmann, Michael & Cornelissen, Thomas & Schauenberg, Bernd, 2009. "Fixed-term Employment, Work Organization and Job Satisfaction : Evidence from German Individual-Level Data," Working papers 2009/08, Faculty of Business and Economics - University of Basel.
    6. Laffan, Kate, 2018. "Every breath you take, every move you make: Visits to the outdoors and physical activity help to explain the relationship between air pollution and subjective wellbeing," Ecological Economics, Elsevier, vol. 147(C), pages 96-113.
    7. Bruno S. Frey & Simon Luechinger & Alois Stutzer, 2010. "The Life Satisfaction Approach to Environmental Valuation," Annual Review of Resource Economics, Annual Reviews, vol. 2(1), pages 139-160, October.
    8. Ferreira, Susana & Moro, Mirko & Welsch, Heinz, 2024. "Using Life Satisfaction and Happiness Data for Environmental Valuation: An Experienced Preference Approach," IZA Discussion Papers 16718, Institute of Labor Economics (IZA).
    9. Welsch, Heinz & Ferreira, Susana, 2014. "Environment, Well-Being, and Experienced Preference," International Review of Environmental and Resource Economics, now publishers, vol. 7(3-4), pages 205-239, December.
    10. Christopher Ambrey & Christopher Fleming, 2014. "Public Greenspace and Life Satisfaction in Urban Australia," Urban Studies, Urban Studies Journal Limited, vol. 51(6), pages 1290-1321, May.
    11. Zerrahn, Alexander & Krekel, Christian, 2015. "Sowing the Wind and Reaping the Whirlwind? The Effect of Wind Turbines on Residential Well-Being," VfS Annual Conference 2015 (Muenster): Economic Development - Theory and Policy 112956, Verein für Socialpolitik / German Economic Association.
    12. Berlemann, Michael, 2015. "Hurricane Risk, Happiness and Life Satisfaction. Some Empirical Evidence on the Indirect Effects of Natural Disasters," VfS Annual Conference 2015 (Muenster): Economic Development - Theory and Policy 113073, Verein für Socialpolitik / German Economic Association.
    13. Juncal Cuñado & Fernando Gracia, 2013. "Environment and Happiness: New Evidence for Spain," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 112(3), pages 549-567, July.
    14. Christopher L Ambrey & Christopher M Fleming & Matthew Manning, 2013. "The life satisfaction approach to estimating the cost of crime: An individual's willingness-to-pay for crime reduction," Discussion Papers in Economics economics:201301, Griffith University, Department of Accounting, Finance and Economics.
    15. Dolan, Paul & Fujiwara, Daniel & Metcalfe, Robert, 2011. "A step towards valuing utility the marginal and cardinal way," LSE Research Online Documents on Economics 121714, London School of Economics and Political Science, LSE Library.
    16. Katrin Rehdanz & Welsch Heinz & Daiju Naritaa & Toshihiro Okubod, 2013. "Well-being effects of a major negative externality: The case of Fukushima," Working Papers V-358-13, University of Oldenburg, Department of Economics, revised Jul 2013.
    17. Berlemann, Michael & Eurich, Marina, 2021. "Natural hazard risk and life satisfaction – Empirical evidence for hurricanes," Ecological Economics, Elsevier, vol. 190(C).
    18. Levinson, Arik, 2012. "Valuing public goods using happiness data: The case of air quality," Journal of Public Economics, Elsevier, vol. 96(9-10), pages 869-880.
    19. Christopher Ambrey & Christopher Fleming, 2014. "Valuing Ecosystem Diversity in South East Queensland: A Life Satisfaction Approach," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 115(1), pages 45-65, January.
    20. Christopher Barrington-Leigh & Fatemeh Behzadnejad, 2017. "Evaluating the short-term cost of low-level local air pollution: a life satisfaction approach," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 19(2), pages 269-298, April.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eti:dpaper:22108. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: TANIMOTO, Toko (email available below). General contact details of provider: https://edirc.repec.org/data/rietijp.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.