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Sociability and Happiness

  • Becchetti, Leonardo

    ()

    (Associazione Italiana per la Cultura della Cooperazione e del Non Profit)

  • Pelloni, Alessandra

    ()

    (Associazione Italiana per la Cultura della Cooperazione e del Non Profit)

  • Rossetti, Fiammetta

    ()

    (Associazione Italiana per la Cultura della Cooperazione e del Non Profit)

The standard specification of utility functions in economic models usually neglects the effect of sociability on happiness. Our level and first difference panel estimates show that relational goods have significant and positive effects on self declared life satisfaction, net of the impact of standard controls included in these kinds of estimates. The estimation of a panel GMM VAR system shows that such effects remain significant when the inverse causality nexus is taken into account.

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Paper provided by Associazione Italiana per la Cultura della Cooperazione e del Non Profit in its series AICCON Working Papers with number 44-2007.

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Length: 33 pages
Date of creation: 09 Jun 2007
Date of revision:
Handle: RePEc:ris:aiccon:2007_044
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  8. Lundberg, Shelly J, 1985. "Tied Wage-Hours Offers and the Endogeneity of Wages," The Review of Economics and Statistics, MIT Press, vol. 67(3), pages 405-10, August.
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  14. Bartolini, Stefano & Bonatti, Luigi, 2002. "Environmental and social degradation as the engine of economic growth," Ecological Economics, Elsevier, vol. 43(1), pages 1-16, November.
  15. Paul Frijters & Ingo Geishecker & John P. Haisken-DeNew & Michael A. Shields, 2006. "Can the Large Swings in Russian Life Satisfaction be Explained by Ups and Downs in Real Incomes?," Scandinavian Journal of Economics, Wiley Blackwell, vol. 108(3), pages 433-458, October.
  16. Ravallion, Martin & Lokshin, Michael, 2001. "Identifying Welfare Effects from Subjective Questions," Economica, London School of Economics and Political Science, vol. 68(271), pages 335-57, August.
  17. Carole Uhlaner, 1989. "“Relational goods” and participation: Incorporating sociability into a theory of rational action," Public Choice, Springer, vol. 62(3), pages 253-285, September.
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