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Family money, relational life and (class) relative wealth:an empirical analysis on life satisfaction of secondary school students

  • Leonardo Becchetti

    ()

    (Department of Economics, Universitˆ Tor Vergata)

  • Fabio Pisani

    (Department of Economics, Universitˆ Tor Vergata)

We investigate factors affecting happiness on a sample of Italian secondary school students. We find that money matters since familyÕs house ownership, mortgages and (class) relative wealth significantly affect life satisfaction. Other crucial factors are geographical residence (those living in Milan are significantly less happy), motherÕs occupation, trust on family and friendships. Even though we cannot rule out inverse causality and other forms of endogeneity, the characteristics of many of the significant regressors such as family wealth, parental job and geographical residence (not under the decisional power of the student)suggest a direct causality nexus for these factors.

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Paper provided by Econometica in its series Econometica Working Papers with number wp35.

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Length: 25
Date of creation: Feb 2012
Date of revision:
Handle: RePEc:ent:wpaper:wp35
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