Subjective Well-Being: Revisions to Dynamic Equilibrium Theory using National Panel Data and Panel Regression Methods

2006 ◽  
Vol 79 (3) ◽  
pp. 369-403 ◽  
Author(s):  
Bruce Headey
2012 ◽  
pp. n/a-n/a
Author(s):  
Maite Blázquez Cuesta ◽  
Santiago Budría

2020 ◽  
Vol 36 (3) ◽  
pp. 333-350
Author(s):  
Fabian Kratz ◽  
Alexander Patzina

Abstract According to theories of cumulative (dis-)advantage, inequality increases over the life course. Labour market research has seized this argument to explain the increasing economic inequality as people age. However, evidence for cumulative (dis-)advantage in subjective well-being remains ambiguous, and a prominent study from the United States has reported contradictory results. Here, we reconcile research on inequality in subjective well-being with theories of cumulative (dis-)advantage. We argue that the age-specific endogenous selection of the (survey) population results in decreasing inequalities in subjective well-being means whereas individual-level changes show a pattern of cumulative (dis-)advantage. Using repeated cross-sectional data from the European Social Survey (N = 15,252) and employing hierarchical age-period-cohort models, we replicate the finding of decreasing inequality from the United States with the same research design for Germany. Using panel data from the German Socio-Economic Panel Study (persons = 47,683, person-years = 360,306) and employing growth curve models, we show that this pattern of decreasing inequality in subjective well-being means is accompanied by increasing inequality in intra-individual subjective well-being changes. This pattern arises because disadvantaged groups, such as the low educated and individuals with low subjective well-being show lower probabilities of continuing to participate in a survey and because both determinants reinforce each other. In addition to allowing individual changes and attrition processes to be examined, the employed multi-cohort panel data have further key advantages for examining inequality in subjective well-being over the life course: They require weaker assumptions to control for period and cohort effects and make it possible to control for interviewer effects that may influence the results.


2020 ◽  
Author(s):  
Cosimo Magazzino ◽  
Angelo Leogrande

Abstract We use data from the new ISTAT-BES database to estimate the socio-economic determinants of subjective well-being in Italian regions between 2004 and 2016. Empirical findings show that subjective well-being is positively associated with education, income and social relations. Our findings imply that governments should improve subjective well-being increasing the level of investment in education, deepening economic growth, reducing income inequality and promoting social relations.


2019 ◽  
Vol 11 (1) ◽  
pp. 64-73
Author(s):  
Gordon D. A. Brown ◽  
John Gathergood

Does happiness depend on what one earns or what one spends? Income is typically found to have small beneficial effects on well-being. However, economic theory suggests that well-being is conferred not by income but by consumption (i.e., spending on goods and services), and a person’s level of consumption may differ greatly from their level of income due to saving behavior and taxation. Moreover, research within consumer psychology has established relationships between people’s spending in specific categories and their well-being. Here we show for the first time using panel data that changes in life satisfaction are associated with changes in consumption, not changes in income. We also find some evidence that increased conspicuous consumption is more strongly associated with improved well-being than is increased nonconspicuous consumption.


Sign in / Sign up

Export Citation Format

Share Document