المستودع الأكاديمي جامعة المدينة

Income and Happiness : New Results from Generalized Threshold and Sequential Models

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dc.creator Winkelmann, Rainer
dc.creator Boes, Stefan
dc.date 2004
dc.date.accessioned 2013-10-16T07:10:25Z
dc.date.available 2013-10-16T07:10:25Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/20415
dc.identifier ppn:389180742
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/20415
dc.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.
dc.language eng
dc.publisher
dc.relation IZA Discussion paper series 1175
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject I31
dc.subject C25
dc.subject ddc:330
dc.subject ordered response models
dc.subject marginal effects
dc.subject subjective well-being
dc.subject Einkommen
dc.subject Lebensqualität
dc.subject Lebensstandard
dc.subject Schätzung
dc.subject Deutschland
dc.subject Lebenszufriedenheit
dc.title Income and Happiness : New Results from Generalized Threshold and Sequential Models
dc.type doc-type:workingPaper


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