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Type | Working Paper |
Scope | Discipline-based scholarship |
Title | The Effect of Income on Positive and Negative Subjective Well-Being |
Organization Unit | |
Authors |
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Language |
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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 |
PDF File | Download from ZORA |
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