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dc.contributor.authorWinkelmann, Raineren_US
dc.contributor.authorBoes, Stefanen_US
dc.date.accessioned2009-01-28T16:13:56Z-
dc.date.available2009-01-28T16:13:56Z-
dc.date.issued2004en_US
dc.identifier.urihttp://hdl.handle.net/10419/20415-
dc.description.abstractEmpirical 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.en_US
dc.language.isoengen_US
dc.publisheren_US
dc.relation.ispartofseriesIZA Discussion paper series 1175en_US
dc.subject.jelI31en_US
dc.subject.jelC25en_US
dc.subject.ddc330en_US
dc.subject.keywordordered response modelsen_US
dc.subject.keywordmarginal effectsen_US
dc.subject.keywordsubjective well-beingen_US
dc.subject.stwEinkommenen_US
dc.subject.stwLebensqualitäten_US
dc.subject.stwLebensstandarden_US
dc.subject.stwSchätzungen_US
dc.subject.stwDeutschlanden_US
dc.subject.stwLebenszufriedenheiten_US
dc.titleIncome and Happiness : New Results from Generalized Threshold and Sequential Modelsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn389180742en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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