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The correlates of subjective overall security

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  • Giovanna Garrone
  • Guido Ortona

Abstract

This paper deals with an important component of human wellbeing, which has been traditionally disregarded by the economic discourse: the individual's perception of his/her overall security. We study this feature within the framework of the economics of happiness. We argue that subjective security is a multi-dimensional psychological asset and briefly discuss its substantial neglect by the economic literature (Section 1). In Section 2, we make the case for the economics of happiness approach, which we apply using data from a representative survey (described in Section 3). Multivariate analyses (Sections 4 to 6) confirm that perceived individual life security is a multidimensional item: its main correlates can be classified as economic, relational, environmental and value-related. This supports the hypothesis that some compensation is possible among different dimensions of security. Structural differences emerge between gender groups.

Suggested Citation

  • Giovanna Garrone & Guido Ortona, 2013. "The correlates of subjective overall security," International Journal of Happiness and Development, Inderscience Enterprises Ltd, vol. 1(3), pages 274-293.
    • Handle: RePEc:ids:ijhdev:v:1:y:2013:i:3:p:274-293
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    Cited by:

    1. Lotito, Gianna & Migheli, Matteo & Ortona, Guido, 2017. "Competition, Information and Cooperation," Department of Economics and Statistics Cognetti de Martiis. Working Papers 201731, University of Turin.
    2. Gianna Lotito & Matteo Migheli & Guido Ortona, 2020. "Transparency, asymmetric information and cooperation," European Journal of Law and Economics, Springer, vol. 50(2), pages 267-294, October.

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