This study analyses the relationship between subjective and objective measures of well-being in selected European countries using the data of the European Community Household Panel (ECHP). In the first part of the paper, we develop a random-effect ordered probit model, separately for each country, relating the subjective measure of income satisfaction to actual income, and controlling for some individual and household socio-demographic fixed effects. In the second part of the paper, we fit a Bayesian cross-classified multilevel model, in order to control for intra-family correlation in subjective well-being, which actually appears to be present.
The richer, the happier? An empirical investigation in selected European countries / G. DE SANTIS; C. SEGHIERI; M.L. TANTURRI. - In: SOCIAL INDICATORS RESEARCH. - ISSN 0303-8300. - STAMPA. - 79(3):(2006), pp. 455-476.
The richer, the happier? An empirical investigation in selected European countries
DE SANTIS, GUSTAVO;
2006
Abstract
This study analyses the relationship between subjective and objective measures of well-being in selected European countries using the data of the European Community Household Panel (ECHP). In the first part of the paper, we develop a random-effect ordered probit model, separately for each country, relating the subjective measure of income satisfaction to actual income, and controlling for some individual and household socio-demographic fixed effects. In the second part of the paper, we fit a Bayesian cross-classified multilevel model, in order to control for intra-family correlation in subjective well-being, which actually appears to be present.File | Dimensione | Formato | |
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