Articlebronze2004

How Important is Methodology for the Estimates of the Determinants of Happiness?

Ada Ferrer-i-carbonell A · Paul Frijters

161 citations0/0 files storedThe Economic Journal

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Psychological Well-being and Life Satisfaction Psychometric Methodologies and Testing Economic and Environmental Valuation

Abstract

Psychologists and sociologists usually interpret happiness scores as cardinal and comparable across respondents, and thus run OLS regressions on happiness and changes in happiness. Economists usually assume only ordinality and have mainly used ordered latent response models, thereby not taking satisfactory account of fixed individual traits. We address this problem by developing a conditional estimator for the fixed‐effect ordered logit model. We find that assuming ordinality or cardinality of happiness scores makes little difference, whilst allowing for fixed‐effects does change results substantially. We call for more research into the determinants of the personality traits making up these fixed‐effects.

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References

1983Limited-dependent and qualitative variables in econometrics 1999Subjective well-being: Three decades of progress.1984Subjective Well-Being 1932A technique for measurement of attitudes 1978On the Pooling of Time Series and Cross Section Data 1995Will raising the incomes of all increase the happiness of all?1996Satisfaction and comparison income 1998What Makes an Entrepreneur?

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