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Subjective well-being and the family: Results from an ordered probit model with multiple random effects

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  • Rainer Winkelmann

Abstract

The previous literature on the determinants of individual well-being has failed to fully account for the interdependencies in well-being at the family level. This paper develops an ordered probit model with multiple random effects that allows to identify the intrafamily correlation in well-being. The parameters of the model can be estimated with panel data using Maximum Marginal Likelihood. The approach is illustrated in an application using panel data for the period 1984-1997 from the German Socio-Economic Panel in which both inter-generational and intra-marriage correlations in well-being are estimated.
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Suggested Citation

  • Rainer Winkelmann, 2005. "Subjective well-being and the family: Results from an ordered probit model with multiple random effects," Empirical Economics, Springer, vol. 30(3), pages 749-761, October.
    • Handle: RePEc:spr:empeco:v:30:y:2005:i:3:p:749-761
    DOI: 10.1007/s00181-005-0255-7
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    Keywords

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    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions; Probabilities
    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
    • J19 - Labor and Demographic Economics - - Demographic Economics - - - Other

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