Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/110628 
Erscheinungsjahr: 
2015
Schriftenreihe/Nr.: 
SOEPpapers on Multidisciplinary Panel Data Research No. 761
Verlag: 
Deutsches Institut für Wirtschaftsforschung (DIW), Berlin
Zusammenfassung: 
Using data from the German Socio-Economic Panel (N = 13,145), we investigate the effects of (not) achieving aspirations on subjective well-being. We match individual-level data about life satisfaction aspirations with their subsequent realizations and we jointly estimate two panel-data equations, the first depicting the effects that (not) achieving initial aspirations exerts on the subsequent level of life satisfaction, and the second describing the endogenous adjustment process followed by aspirations as a function of beaten and unmet targets. We find that while achieving aspirations exerts weak effects on life satisfaction, failing to match aspired conditions significantly reduces subsequent realizations of life satisfaction. Moreover, our analysis supports a "hedonic adaptation" explanation of the previous results, as we find that aspirations significantly adjust to beaten targets, while they remain almost unchanged in case of unmet targets.
Schlagwörter: 
Aspirations
Affective forecasts
Life Satisfaction
Hedonic Adaptation
JEL: 
C99
C83
I31
Dokumentart: 
Working Paper

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