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dc.contributor.authorHeadey, Bruceen_US
dc.contributor.authorMuffels, Ruuden_US
dc.contributor.authorWagner, Gert G.en_US
dc.date.accessioned2010-06-08en_US
dc.date.accessioned2010-07-22T09:28:39Z-
dc.date.available2010-07-22T09:28:39Z-
dc.date.issued2010en_US
dc.identifier.urihttp://hdl.handle.net/10419/36715-
dc.description.abstractUsing data from the long-running German Socio-Economic Panel (SOEP) 1984-2008, this paper analyses the effects of individual preferences and choices on subjective well-being (SWB). It is shown that preferences and choices relating to life goals/values, partner's personality, hours of work, social participation and healthy lifestyle all have substantial effects on life satisfaction. The results have negative implications for the still dominant theory of SWB, set-point theory. This theory holds that adult SWB does not change in the medium or long term, although temporary fluctuations occur due to specific life events. Set-point theory has come under increasing criticism in recent years, primarily due to unmistakable evidence in SOEP that, during the last 25 years, up to a third of the population has recorded substantial and apparently permanent changes in life satisfaction. It is becoming clear that the main challenge now for SWB researchers is to develop a new theory which can account for medium and long term change, and not merely stability in SWB. Set-point theory is limited precisely because it is purely a theory of stability. The paper is based on a specially constructed SOEP file in which data are divided into five 5-year periods in order to facilitate analysis of medium term change.en_US
dc.language.isoengen_US
dc.publisherDeutsches Institut für Wirtschaftsforschung (DIW) Berlinen_US
dc.relation.ispartofseriesDiscussion papers // German Institute for Economic Research 1010en_US
dc.subject.jelI31en_US
dc.subject.jelJ1en_US
dc.subject.jelZ13en_US
dc.subject.ddc330en_US
dc.subject.keywordSWBen_US
dc.subject.keywordset-point theoryen_US
dc.subject.keywordlife goalsen_US
dc.subject.keywordindividual choiceen_US
dc.subject.keywordpanel regression analysisen_US
dc.subject.keywordSOEPen_US
dc.subject.stwLebenszufriedenheiten_US
dc.subject.stwLebensqualitäten_US
dc.subject.stwEntscheidungen_US
dc.subject.stwPräferenztheorieen_US
dc.subject.stwTheorieen_US
dc.subject.stwDeutschlanden_US
dc.titleChoices which change life satisfaction: Revising SWB theory to account for changeen_US
dc.typeWorking Paperen_US
dc.identifier.ppn627496865en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
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