Happiness and age cycles – return to start…
AbstractPrevious happiness research has explicitly assumed that subjective well-being is U-shaped in age. This paper sheds new light on this issue testing several functional forms. Using micro data from the World Values Survey on 44’000 persons in 30 economically well-developed OECD countries with long life expectancies, we reveal that age follows a hyperbolic form. We find that life satisfaction reaches another local maximum around the age of 83, with a level identical to that of a 26-years old. This hyperbolic well-being-age relation is robust to the inclusion of cohort effects. We corroborate the functional form using a sample of non-OECD countries.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 15249.
Date of creation: 15 Feb 2009
Date of revision:
Subjective Well-Being; cohorts; happiness; aging; life-course; OECD; WVS; cross-national; life satisfaction;
Find related papers by JEL classification:
- C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
- J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
- I31 - Health, Education, and Welfare - - Welfare and Poverty - - - General Welfare
This paper has been announced in the following NEP Reports:
- NEP-AGE-2009-05-23 (Economics of Ageing)
- NEP-ALL-2009-05-23 (All new papers)
- NEP-HAP-2009-05-23 (Economics of Happiness)
- NEP-NEU-2009-05-23 (Neuroeconomics)
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