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The Connexion between Old and New

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dc.creator van Praag, Bernard M. S.
dc.date 2004
dc.date.accessioned 2013-10-16T07:10:22Z
dc.date.available 2013-10-16T07:10:22Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/20401
dc.identifier ppn:388190973
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/20401
dc.description In this paper we compare the new satisfaction evaluation approach, developed in the nineties by Oswald, Clark, Blanchflower and others with the older income evaluation (IEQ) approach, developed by Van Praag and Kapteyn in the seventies of the previous century. We find that both approaches yield strikingly similar results with respect to financial satisfaction. The IEQ- approach yields additional insights, but it is not well applicable to other life domains than finance. It is argued that the usual Probit specification implies a specific cardinalization and, consequently, is less ordinal than usually thought. It is shown that the Probit-approach may be replaced by three other equivalent specifications that have some computational and intuitive advantages.
dc.language eng
dc.relation IZA Discussion paper series 1162
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject I31
dc.subject H31
dc.subject C25
dc.subject D31
dc.subject C24
dc.subject I39
dc.subject ddc:330
dc.subject financial satisfaction
dc.subject income evaluation
dc.subject Probit-models
dc.subject cardinal utility
dc.subject Eigeninteresse
dc.subject Nutzentheorie
dc.subject Haushaltseinkommen
dc.title The Connexion between Old and New
dc.type doc-type:workingPaper

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