Understanding fixed effects in human well-being
Boyce, Christopher J.. (2010) Understanding fixed effects in human well-being. Journal of Economic Psychology, Vol.31 (No.1). pp. 1-16. ISSN 0167-4870Full text not available from this repository.
Official URL: http://dx.doi.org/10.1016/j.joep.2009.08.009
In studies of subjective well-being, economists and other researchers typically use a fixed or random effect estimation to control for unobservable heterogeneity across individuals. Such individual heterogeneity, although substantially reducing the estimated effect of many characteristics, is little understood. This paper shows that personality measures can account for 20% of this heterogeneity and a further 13% can be accounted for by other observable between-person information. This paper then demonstrates that the use of personality measures, in a new technique developed by Plumper and Troeger (2007). can help researchers obtain improved estimates for important characteristics such as marital status, disability and income. The paper argues that this has important practical implications. (C) 2009 Elsevier B.V. All rights reserved.
|Item Type:||Journal Article|
|Subjects:||H Social Sciences > HC Economic History and Conditions
B Philosophy. Psychology. Religion > BF Psychology
|Divisions:||Other > Institute of Advanced Study
Faculty of Science > Psychology
|Journal or Publication Title:||Journal of Economic Psychology|
|Official Date:||February 2010|
|Number of Pages:||16|
|Page Range:||pp. 1-16|
|Access rights to Published version:||Restricted or Subscription Access|
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