Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/150643
Authors: 
Easterlin, Richard A.
Year of Publication: 
2008
Series/Report no.: 
SOEPpapers on Multidisciplinary Panel Data Research 94
Abstract: 
In the transition from socialism to capitalism in Eastern Europe life satisfaction has followed the V-shaped pattern of GDP but failed to recover commensurately. In general, increased satisfaction with material living levels has occurred at the expense of decreased satisfaction with work, health, and family life. Disparities in life satisfaction have increased markedly with those hardest hit being the less educated and persons over age 30; women and men have suffered about equally. The asymmetric response of life satisfaction to decreases in GDP in transition countries and increases in GDP in non-transition countries is arguably due to loss aversion.
Subjects: 
Happiness
transition
capitalism
socialism
loss aversion
JEL: 
I31
P5
P27
D60
Document Type: 
Working Paper

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