Recent Advances in the Economics of Individual Subjective Well-Being

Stutzer, Alois; Frey, Bruno S.

doi:10.2139/ssrn.1579572

Cited by 15 publications

(4 citation statements)

References 116 publications

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“…Traditional well-being measures-such as gross domestic product, as a measurement on a regional level, and income on an individual or family level-have also been challenged as being unduly one-sided and incapable of accounting for non-monetary aspects of life quality, such as happiness and life satisfaction [24,25]. As a result, experts in adjacent fields such as economics and political science started to take an interest in subjective well-being [3,[26][27][28][29], defined as personal cognition and affective evaluation of life quality [30,31]. A publication by Diener, et al [32] defines subjective well-being as "a broad category of phenomena that includes people's emotional responses, domain satisfactions and global judgments of life satisfaction."…”

Section: Literature Reviewmentioning

confidence: 99%

Promoting Subjective Well-Being among Rural and Urban Residents in Indonesia: Does Social Capital Matter?

et al. 2022

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There has been growing research on the link between social capital and subjective well-being. However, to date, research investigating the impact of social capital on subjective well-being based on urban and rural typology is limited. Therefore, to fill this gap, this study aims to examine the effects of social capital on subjective well-being, based on urban and rural typology, using large-scale data from 29,341 Indonesian residents, comprising 17,155 urban residents and 12,186 rural residents. A two-stage predictor substitution (2SPS) approach is applied to address the endogeneity issue in estimating the impact of social capital. The empirical findings indicate that social capital significantly increases subjective well-being, i.e., happiness and life satisfaction. However, based on the urban–rural model, we found that the impact of social capital on subjective well-being is different. In the urban model, social capital increases happiness and life satisfaction significantly. However, the rural model indicates that social capital significantly increases happiness, not life satisfaction. These findings imply that subjective well-being impacts urban residents more than rural residents. The main reason is social capital in urban areas is well-developed (i.e., management and infrastructure for community association). Therefore, we suggest developing social capital in rural areas to expand its role in improving well-being.

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Section: Literature Reviewmentioning

confidence: 99%

Promoting Subjective Well-Being among Rural and Urban Residents in Indonesia: Does Social Capital Matter?

et al. 2022

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“…The study of happiness or subjective well-being is by no means a recent research topic. It is an expanding field with a large and growing number of papers (Bruni & Porta, 2016;Graham & Behrman, 2009;Stutzer & Frey, 2010;Veenhoven, 2009, among others). Most of these papers have focused on the role played by factors such as income, education, and health among others, in explaining happiness.…”

Section: Introductionmentioning

confidence: 99%

The Importance of Different Forms of Social Capital for Happiness in Europe: A Multilevel Structural Equation Model (GSEM)

Gómez-Balcácer

Arechavala

Costilla

2022

Applied Research Quality Life

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This paper investigates the effects of different dimensions of social capital on happiness of Europeans. Unlike other studies, a categorical principal component analysis (CATPCA) is applied to obtain the dimensions of social capital. The data used come from the ninth wave of the European Social Survey (ESS), year 2018. Happiness is modelled using a multilevel structural equations model (GSEM) by country to study the role of social capital in Europeans' happiness, when controlling for the effect of factors such as gender, unemployment, age, low income, higher education, and living with a partner. Social capital is measured as a multidimensional concept composed of institutional trust, social trust, social ties and voluntary association, civility and sense of belonging, and religiosity. Among the results, we found that the five dimensions that build social capital have a positive impact on happiness. In addition to the positive effects of social capital, the control variables have the expected impact. In a context marked by growing individualism and social isolation, the results of this work can guide policy makers in using the dimensions of social capital to increase the subjective well-being of the population.

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“…The subjective well-being literature has grown exponentially since the mid-1970s (Diener, 2000;Frey & Stutzer, 2002;Dolan et al, 2008;Stutzer & Frey, 2010;Frey & Gallus, 2016). Emanating from this literature has been a growing interest in the study of domain satisfactions (Møller & Saris, 2001;van Praag & Ferrer-i-Carbonell, 2004;Easterlin, 2006;Rojas, 2006;Diener & Ryan, 2009) such as job satisfaction (Clark, 1997;van Praag & Ferrer-i-Carbonell, 2004), financial satisfaction (Joo & Grable, 2004;Plagnol, 2011), and leisure satisfaction (Tsou & Liu, 2001).…”

Section: Introductionmentioning

confidence: 99%

Satisfaction with Family Life in South Africa: The Role of Socioeconomic Status

2017

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This paper investigates the determinants of self-reported satisfaction with family life, applied to the South African context, with socioeconomic status (SES) as the main covariate and family functioning as the secondary covariate of interest. An individual-, household-, and subjective SES index is constructed via multiple correspondence analysis. Structural equation modelling (SEM) and multiplegroup SEM (MGSEM) are used to analyse the role of SES in explaining satisfaction with family life. Higher levels of SES, especially household SES and subjective SES, are related to greater satisfaction with family life. Family functioning, in terms of better family flexibility, is associated with higher satisfaction with family life. The MGSEM results indicate that the role of family flexibility in explaining satisfaction with family life is similar across SES quartiles; family flexibility is an important predictor of family-life satisfaction, regardless of SES quartile.

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Recent Advances in the Economics of Individual Subjective Well-Being

Cited by 15 publications

References 116 publications

Promoting Subjective Well-Being among Rural and Urban Residents in Indonesia: Does Social Capital Matter?

Promoting Subjective Well-Being among Rural and Urban Residents in Indonesia: Does Social Capital Matter?

The Importance of Different Forms of Social Capital for Happiness in Europe: A Multilevel Structural Equation Model (GSEM)

Satisfaction with Family Life in South Africa: The Role of Socioeconomic Status

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