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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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