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Erratum to: The Money–Happiness Relationship in Transition Countries: Evidence from Albania

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  • Leonardo Becchetti
  • Sara Savastano

Abstract

With an empirical analysis on a panel of individuals living in a transition country (Albania) we document that the impact of money on happiness does not depend only on the pecuniary outcome but also from aspirations and conditions leading to its determination. Additional factors which matter are the self perceived economic status and the share earned from remittances (and, more weakly, from social assistance). By looking at different sides of the phenomenon we find that these factors affect levels, changes in income and the probability of “being frustrated achievers”. Finally, differently from what happens in developed countries, higher income levels are negatively and not positively correlated with the probability of frustrated achievement supporting the hypothesis that individuals in transition countries are not in the upper side of a concave happiness-income relationship.
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Leonardo Becchetti & Sara Savastano, 2011. "Erratum to: The Money–Happiness Relationship in Transition Countries: Evidence from Albania," Transition Studies Review, Springer;Central Eastern European University Network (CEEUN), vol. 18(1), pages 216-216, September.
    • Handle: RePEc:spr:trstrv:v:18:y:2011:i:1:p:216-216
    DOI: 10.1007/s11300-011-0194-2
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    JEL classification:

    • I30 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General
    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
    • P20 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - General

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