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Contribution Details
| Type | Working Paper |
| Scope | Discipline-based scholarship |
| Title | The Effect of Income on Positive and Negative Subjective Well-Being |
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| Institution | University of Zurich |
| Series Name | Working paper series / Socioeconomic Institute |
| Number | No. 605 |
| Date | 2006 |
| Abstract Text | Increasing evidence from the empirical economic and psychological literature suggests that positive and negative well-being are more than opposite ends of the same phenomenon. Two separate measures of the dependent variable may be needed when analyzing the determinants of subjective well-being. We argue that this conclusion reflects in part the use of too restrictive econometric models. A flexible multiple-index ordered probit panel data model with varying thresholds can identify response asymmetries in single-item measures of subjective well-being. An application to data from the German Socio-Economic Panel for 1984-2004 shows that income has only a minor effect on positive subjective well-being but a large effect on negative well-being. |
| Official URL | http://www.econ.uzh.ch/wp.html |
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