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http://dspace.mediu.edu.my:8181/xmlui/handle/10419/20415| Title: | Income and Happiness : New Results from Generalized Threshold and Sequential Models |
| Keywords: | I31 C25 ddc:330 ordered response models marginal effects subjective well-being Einkommen Lebensqualität Lebensstandard Schätzung Deutschland Lebenszufriedenheit |
| Issue Date: | 16-Oct-2013 |
| Publisher: | |
| Description: | Empirical studies on the relationship between income and happiness commonly use standard ordered response models, the most well-known representatives being the ordered logit and the ordered probit. However, these models restrict the marginal probability effects by design, and therefore limit the analysis of distributional aspects of a change in income, that is, the study of whether the income effect depend on a person's happiness. In this paper we pinpoint the shortcomings of standard models and propose two alternatives, namely generalized threshold and sequential models. With data of two waves of the German Socio- Economic Panel, 1984 and 1997, we show that the more general models yield different marginal probability effects than standard models. |
| URI: | http://koha.mediu.edu.my:8181/xmlui/handle/10419/20415 |
| Other Identifiers: | http://hdl.handle.net/10419/20415 ppn:389180742 |
| Appears in Collections: | EconStor |
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