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Happiness in Life Domains: Evidence from Bangladesh Based on Parametric and Non-Parametric Models

Author

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  • Minhaj Mahmud

    (BRAC Institute of Governance and Development, BRAC University)

  • Yasuyuki Sawada

    (Faculty of Economics, The University of Tokyo)

Abstract

This paper applies a two layer approach to explain overall happiness both as a function of happiness in different life-domains and conventional explanatory variables such as income, education and health etc. Then it tests the happiness-income relationship in different happiness domains. Overall, the results suggest that income explains a large part of the variation in total happiness and that income is closely related with domain-specific happiness, even with non-economic domains. This is also consistent with a hypothesis that income and happiness will move hand in hand in developing countries, suggesting that income is a good summary measure of well-being and welfare for low income societies. Yet, the nonparametric estimation confirms the concavity of happiness function in economic domain, which is consistent with Easterlin paradox.

Suggested Citation

  • Minhaj Mahmud & Yasuyuki Sawada, 2015. "Happiness in Life Domains: Evidence from Bangladesh Based on Parametric and Non-Parametric Models," CIRJE F-Series CIRJE-F-987, CIRJE, Faculty of Economics, University of Tokyo.
    • Handle: RePEc:tky:fseres:2015cf987
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    File URL: http://www.cirje.e.u-tokyo.ac.jp/research/dp/2015/2015cf987.pdf
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    References listed on IDEAS

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    4. Alan Brace & Dariusz G¸atarek & Marek Musiela, 1997. "The Market Model of Interest Rate Dynamics," Mathematical Finance, Wiley Blackwell, vol. 7(2), pages 127-155, April.
    5. Filipović, Damir & Trolle, Anders B., 2013. "The term structure of interbank risk," Journal of Financial Economics, Elsevier, vol. 109(3), pages 707-733.
    6. Masaaki Fujii & Akihiko Takahashi, 2010. "Choice of Collateral Currency," CIRJE F-Series CIRJE-F-778, CIRJE, Faculty of Economics, University of Tokyo.
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    Cited by:

    1. Miranda, Álvaro & Montero, Rodrigo, 2020. "The determinants of life satisfaction among Chilean workers," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), August.

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