Based on data from the German Socio-Economic Panel (SOEP), we used a correlated random effects econometric framework to simultaneously estimate the within and between effects of age on subjective well-being. The proposed approach overcomes the ambiguity in the relationship between age and...

This paper uses longitudinal data from the German Socioeconomic Panel (GSOEP) to analyze the course of subjective well-being over the life cycle. The paper ends that the U-shaped pattern of life satisfaction over age is less supported in a longitudinal analysis. Moreover, assets and material...

Since the early 1970s, it was argued that shifts from relatively smaller to larger youth cohorts in the labor force raise the unemploy- ment rate. In contrast, Shimer (2001) comes to a contrary conclusion using US state level data. I provide a theoretical framework for local labor markets that...

Previous literature has identified income, poor health and social relationships as the most important predictors of subjective well-being (SWB). In addition, the literature has identified a non-linear relationship between age and SWB, with a dip in SWB in mid-life. Explanations of the non-linear...

In our analysis we discuss several dynamic panel data estimators proposed in the literature and assess their performance in Monte Carlo simulations. It is a well known fact that the natural choice, the least squares dummy variable estimator is biased in the context of dynamic estimation. The...

The paper re-examines existing estimators for the panel data fixed effects ordered logit model, proposes a new one, and studies the sampling properties of these estimators in a series of Monte Carlo simulations. There are two main findings. First, we show that some of the estimators used in the...

The paper re-examines existing estimators for the panel data fixed effects ordered logit model, proposes a new one, and studies the sampling properties of these estimators in a series of Monte Carlo simulations. There are two main findings. First, we show that some of the estimators used in the...

While the existence of the in-group bias is a well-researched phenomenon in Economics, the established findings are of limited value for understanding its dynamics in the context of challenging societal and economic times. The aim of this paper is to shed more light on whether intergroup...

Focusing on decisions in health and finance, we collected new data in a general population survey on (i) individual-specific attitudes toward risk, loss and ambiguity and (ii) individual-specific probabilistic beliefs about events related to the decisions we consider. The joint availability of...