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ERIC Number: EJ867606
Record Type: Journal
Publication Date: 2010-Jan
Pages: 18
Abstractor: As Provided
Reference Count: N/A
ISBN: N/A
ISSN: ISSN-0303-8300
The Effect of Income on General Life Satisfaction and Dissatisfaction
Boes, Stefan; Winkelmann, Rainer
Social Indicators Research, v95 n1 p111-128 Jan 2010
Increasing evidence from the empirical economic and psychological literature suggests that positive and negative well-being are more than opposite ends of the same phenomenon. Two separate measures of the dependent variable may therefore be needed when analyzing the determinants of subjective well-being. We investigate asymmetries in the effect of income on subjective well-being with a single-item measure of general life satisfaction. Using data from the German Socio-Economic Panel 1984-2004, and a flexible multiple-index ordered probit panel data model with varying thresholds, we find that income has only a minor effect on high satisfaction but significantly reduces dissatisfaction.
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Publication Type: Journal Articles; Reports - Evaluative
Education Level: N/A
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Identifiers - Location: Germany