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SWB as a Measure of Individual Well-Being

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  • Andrew E. Clark

    (PSE - Paris School of Economics, PSE - Paris-Jourdan Sciences Economiques - ENS Paris - École normale supérieure - Paris - INRA - Institut National de la Recherche Agronomique - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique)

Abstract

There is much discussion about using subjective well-being measures as inputs into a social welfare function, which will tell us how well societies are doing. But we have (many) more than one measure of subjective well-being. I here consider examples of the three of the main types (life satisfaction, affect, and eudaimonia) in three European surveys. These are quite strongly correlated with each other, and are correlated with explanatory variables in pretty much the same manner. I provide an overview of a recent literature which has compared how well different subjective well-being measures predict future behaviour, and address the issue of the temporality of well-being measures, and whether they should be analysed ordinally or cardinally.
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Suggested Citation

  • Andrew E. Clark, 2016. "SWB as a Measure of Individual Well-Being," Post-Print halshs-01383897, HAL.
  • Handle: RePEc:hal:journl:halshs-01383897
    Note: View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-01383897
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    References listed on IDEAS

    as
    1. Andrew E. Clark & Yannis Georgellis, 2013. "Back to Baseline in Britain: Adaptation in the British Household Panel Survey," Economica, London School of Economics and Political Science, vol. 80(319), pages 496-512, July.
    2. Andrew Clark & Fabrice Etilé & Fabien Postel-Vinay & Claudia Senik & Karine Van der Straeten, 2005. "Heterogeneity in Reported Well-Being: Evidence from Twelve European Countries," Economic Journal, Royal Economic Society, vol. 115(502), pages 118-132, March.
    3. Andrew E. Clark & Claudia Senik, 2011. "Is Happiness Different From Flourishing? Cross-Country Evidence from the ESS," Revue d'économie politique, Dalloz, vol. 121(1), pages 17-34.
    4. Andrew E. Clark & Paul Frijters & Michael A. Shields, 2008. "Relative Income, Happiness, and Utility: An Explanation for the Easterlin Paradox and Other Puzzles," Journal of Economic Literature, American Economic Association, vol. 46(1), pages 95-144, March.
    5. Simon Luechinger, 2009. "Valuing Air Quality Using the Life Satisfaction Approach," Economic Journal, Royal Economic Society, vol. 119(536), pages 482-515, March.
    6. Andrew E. Clark, 2003. "Unemployment as a Social Norm: Psychological Evidence from Panel Data," Journal of Labor Economics, University of Chicago Press, vol. 21(2), pages 289-322, April.
    7. repec:spr:jhappi:v:18:y:2017:i:4:d:10.1007_s10902-016-9773-6 is not listed on IDEAS
    8. Freeman, Richard B, 1978. "Job Satisfaction as an Economic Variable," American Economic Review, American Economic Association, vol. 68(2), pages 135-141, May.
    9. Clark, Andrew E., 2001. "What really matters in a job? Hedonic measurement using quit data," Labour Economics, Elsevier, vol. 8(2), pages 223-242, May.
    10. Guven, Cahit & Senik, Claudia & Stichnoth, Holger, 2012. "You can’t be happier than your wife. Happiness gaps and divorce," Journal of Economic Behavior & Organization, Elsevier, vol. 82(1), pages 110-130.
    11. Robert J. MacCulloch & Rafael Di Tella & Andrew J. Oswald, 2001. "Preferences over Inflation and Unemployment: Evidence from Surveys of Happiness," American Economic Review, American Economic Association, vol. 91(1), pages 335-341, March.
    12. Green, Francis, 2010. "Well-being, job satisfaction and labour mobility," Labour Economics, Elsevier, vol. 17(6), pages 897-903, December.
    13. Clark, Andrew & Knabe, Andreas & Rätzel, Steffen, 2010. "Boon or bane? Others' unemployment, well-being and job insecurity," Labour Economics, Elsevier, vol. 17(1), pages 52-61, January.
    14. AndrewE. Clark & Claudia Senik, 2010. "Who Compares to Whom? The Anatomy of Income Comparisons in Europe," Economic Journal, Royal Economic Society, vol. 120(544), pages 573-594, May.
    15. Felicia Huppert & Nic Marks & Andrew Clark & Johannes Siegrist & Alois Stutzer & Joar Vittersø & Morten Wahrendorf, 2009. "Measuring Well-being Across Europe: Description of the ESS Well-being Module and Preliminary Findings," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 91(3), pages 301-315, May.
    16. Daniel J. Benjamin & Ori Heffetz & Miles S. Kimball & Alex Rees-Jones, 2012. "What Do You Think Would Make You Happier? What Do You Think You Would Choose?," American Economic Review, American Economic Association, vol. 102(5), pages 2083-2110, August.
    17. Andrew E. Clark & Ed Diener & Yannis Georgellis & Richard E. Lucas, 2008. "Lags And Leads in Life Satisfaction: a Test of the Baseline Hypothesis," Economic Journal, Royal Economic Society, vol. 118(529), pages 222-243, June.
    18. De Neve, Jan-Emmanuel & Diener, Ed & Tay, Louis & Xuereb, Cody, 2013. "The objective benefits of subjective well-being," LSE Research Online Documents on Economics 51669, London School of Economics and Political Science, LSE Library.
    19. Ada Ferrer-i-Carbonell & Paul Frijters, 2004. "How Important is Methodology for the estimates of the determinants of Happiness?," Economic Journal, Royal Economic Society, vol. 114(497), pages 641-659, July.
    20. Andreas Knabe & Steffen Rätzel & Ronnie Schöb & Joachim Weimann, 2010. "Dissatisfied with Life but Having a Good Day: Time-use and Well-being of the Unemployed," Economic Journal, Royal Economic Society, vol. 120(547), pages 867-889, September.
    21. Edward Deci & Richard Ryan, 2008. "Hedonia, eudaimonia, and well-being: an introduction," Journal of Happiness Studies, Springer, vol. 9(1), pages 1-11, January.
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    24. Fischer, Justina AV, 2009. "Subjective Well-Being as Welfare Measure: Concepts and Methodology," MPRA Paper 16619, University Library of Munich, Germany.
    25. Bernard M. S. van Praag & Barbara E. Baarsma, 2005. "Using Happiness Surveys to Value Intangibles: The Case of Airport Noise," Economic Journal, Royal Economic Society, vol. 115(500), pages 224-246, January.
    26. Christian Scheve & Frederike Esche & Jürgen Schupp, 2017. "The Emotional Timeline of Unemployment: Anticipation, Reaction, and Adaptation," Journal of Happiness Studies, Springer, vol. 18(4), pages 1231-1254, August.
    27. Daniel J. Benjamin & Ori Heffetz & Miles S. Kimball & Nichole Szembrot, 2014. "Beyond Happiness and Satisfaction: Toward Well-Being Indices Based on Stated Preference," American Economic Review, American Economic Association, vol. 104(9), pages 2698-2735, September.
    28. Georgellis, Yannis & Sessions, John & Tsitsianis, Nikolaos, 2007. "Pecuniary and non-pecuniary aspects of self-employment survival," The Quarterly Review of Economics and Finance, Elsevier, vol. 47(1), pages 94-112, March.
    29. Ulrich Schimmack & Jürgen Schupp & Gert Wagner, 2008. "The Influence of Environment and Personality on the Affective and Cognitive Component of Subjective Well-being," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 89(1), pages 41-60, October.
    30. Powdthavee, Nattavudh & van den Berg, Bernard, 2011. "Putting different price tags on the same health condition: Re-evaluating the well-being valuation approach," Journal of Health Economics, Elsevier, vol. 30(5), pages 1032-1043.
    31. Fleurbaey, Marc & Blanchet, Didier, 2013. "Beyond GDP: Measuring Welfare and Assessing Sustainability," OUP Catalogue, Oxford University Press, number 9780199767199.
    32. Daniel J. Benjamin & Ori Heffetz & Miles S. Kimball & Alex Rees-Jones, 2014. "Can Marginal Rates of Substitution Be Inferred from Happiness Data? Evidence from Residency Choices," American Economic Review, American Economic Association, vol. 104(11), pages 3498-3528, November.
    33. Dimitris Mavridis, 2015. "The unhappily unemployed return to work faster," IZA Journal of Labor Economics, Springer;Forschungsinstitut zur Zukunft der Arbeit GmbH (IZA), vol. 4(1), pages 1-22, December.
    34. Graham, Carol & Eggers, Andrew & Sukhtankar, Sandip, 2004. "Does happiness pay?: An exploration based on panel data from Russia," Journal of Economic Behavior & Organization, Elsevier, vol. 55(3), pages 319-342, November.
    35. Antonella Delle Fave & Ingrid Brdar & Teresa Freire & Dianne Vella-Brodrick & Marié Wissing, 2011. "The Eudaimonic and Hedonic Components of Happiness: Qualitative and Quantitative Findings," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 100(2), pages 185-207, January.
    36. Jan-Emmanuel De Neve & Ed Diener & Louis Tay & Cody Xuereb, 2013. "The Objective Benefits of Subjective Well-Being," CEP Discussion Papers dp1236, Centre for Economic Performance, LSE.
    37. George A. Akerlof & Andrew K. Rose & Janet L. Yellen, 1988. "Job Switching and Job Satisfaction in the U.S. Labor Market," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 19(2), pages 495-594.
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