• Medientyp: E-Book
  • Titel: Income and Happiness : New Results from Generalized Threshold and Sequential Models
  • Beteiligte: Boes, Stefan [Verfasser:in]; Winkelmann, Rainer [Verfasser:in]
  • Erschienen: [S.l.]: SSRN, [2021]
  • Umfang: 1 Online-Ressource (32 p)
  • Sprache: Englisch
  • DOI: 10.2139/ssrn.561724
  • Identifikator:
  • Entstehung:
  • Anmerkungen: Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments June 2004 erstellt
  • Beschreibung: 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
  • Zugangsstatus: Freier Zugang