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Nattavudh Powdthavee 《Empirical Economics》2010,39(1):77-92
There is a long tradition of psychologists finding small income effects on life satisfaction (or happiness). Yet the issue
of income endogeneity in life satisfaction equations has rarely been addressed. The present paper is an attempt to estimate
the causal effect of income on happiness. Instrumenting for income and allowing for unobserved heterogeneity result in an
estimated income effect that is almost twice as large as the estimate in the basic specification. The results call for a reexamination
on previous findings that suggest money buys little happiness, and a reevaluation on how the calculation of compensatory packages
to various shocks in the individual’s life events should be designed. 相似文献
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This article is an empirical study of slope heterogeneity in job satisfaction. It provides evidence from the generalized ordered probit models that different job characteristics tend to have different distributional impacts on the overall job satisfaction. For instance, standard models tend to significantly underestimate the effects of monthly salary and hours worked at generating the ‘highly’ satisfied workers, while lowering the incidence of the ‘very dissatisfied’ workers. Although our results should be viewed as illustrative, we provide discussions of their potential implications for employers and on how they could help with the design of employment contracts. 相似文献
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Nattavudh Powdthavee 《Asian Economic Journal》2007,21(2):169-194
This paper examines what makes us feel richer or poorer than others. It investigates cross‐sectional and longitudinal determinants of individuals’ subjective economic status in Indonesia. Using two waves of Indonesian Family Life Surveys, 1997 and 2000, I show that individuals’ perceptions of where they are on the economic scale are more dependent on a number of socioeconomic characteristics, as well as their attitudes towards their future economic status, than their current spending capacities would suggest. I also find significant, albeit weaker, expenditure and income effects on individuals’ subjective economic status once individual fixed effects are controlled for in the regression. 相似文献
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Does happiness adapt? A longitudinal study of disability with implications for economists and judges
This paper is an empirical study of partial hedonic adaptation. It provides longitudinal evidence that people who become disabled go on to exhibit considerable recovery in mental well-being. In fixed-effects equations we estimate the degree of hedonic adaptation at — depending on the severity of the disability — approximately 30% to 50%. Our calculations should be viewed as illustrative; more research, on other data sets, is needed. Nevertheless, we discuss potential implications of our results for economists and the courts. 相似文献
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Would You Like to Know What Makes People Happy? An Overview of the Datasets on Subjective Well‐Being 下载免费PDF全文
Nattavudh Powdthavee 《The Australian economic review》2015,48(3):314-320
This article provides a guide for young economists wishing to conduct well‐being research. It describes the different data sources commonly used in the study of people's subjective well‐being, as well as provides a brief discussion on the types of well‐being measures available within each dataset. 相似文献
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