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We discuss a new approach to specifying and estimating ordered probit models with endogenous switching, or with binary endogenous regressor, based on copula functions. These models provide a framework of analysis for self-selection in economic well-being equations, where assigment of regressors...
Persistent link: https://www.econbiz.de/10011600780
We discuss a new approach to specifying and estimating ordered probit models with endogenous switching, or with binary endogenous regressor, based on copula functions. These models provide a framework of analysis for self-selection in economic well-being equations, where assigment of regressors...
Persistent link: https://www.econbiz.de/10005017482
income uncertainty from an ex ante point of view. Two different measures of subjective well being are under study …: Satisfaction with household income and the income evaluation question as developed by Van Praag. It can be shown that satisfaction … with income is more affected by ex ante than by ex post volatility of income. The ordinal version of the Van Praag approach …
Persistent link: https://www.econbiz.de/10011600793
income uncertainty from an ex ante point of view. Two different measures of subjective well being are under study …: Satisfaction with household income and the income evaluation question as developed by Van Praag. It can be shown that satisfaction … with income is more affected by ex ante than by ex post volatility of income. The ordinal version of the Van Praag approach …
Persistent link: https://www.econbiz.de/10005018732
A series of studies have suggested that changes in others' income may be perceived differently in post-transition and …' income divide the German nation. We find that the neighbourhood income effect for West Germany is negative (which is in line … with the "relative income" hypothesis) and slightly more marked in neighbourhoods that may be assumed to be places where …
Persistent link: https://www.econbiz.de/10011600940
Recent studies focused on testing the Easterlin hypothesis (happiness and national income correlate in the cross … from previous research, we now count three countries for which Easterlin's happiness-income hypothesis cannot be rejected …
Persistent link: https://www.econbiz.de/10010313032
Recent studies focused on testing the Easterlin hypothesis (happiness and national income correlate in the cross … from previous research, we now count three countries for which Easterlin's happiness-income hypothesis cannot be rejected …
Persistent link: https://www.econbiz.de/10010787007
life are quantified in a multidimensional approach of poverty and wealth: Individual income, current health, occupational … supposed. Major findings: An initial rise in life satisfaction can improve income and health, but not job autonomy. However … Konzentration gilt zentralen Bereichen des Lebens: Individuelles Einkommen, subjektiver Gesundheitszustand, berufliche Autonomie bzw …
Persistent link: https://www.econbiz.de/10010327286
commuting choice using data on subjective wellbeing. People show substantial adaptation to a higher labor income but not to …
Persistent link: https://www.econbiz.de/10010317256
The correct prediction of how alternative states of the world affect our lives is a cornerstone of economics. We study how accurate people are in predicting their future well-being when facing major life events. Based on individual panel data, we compare people's forecast of their life...
Persistent link: https://www.econbiz.de/10011335342