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Subjective well-being and the family: results from an ordered probit model with multiple random effects


Winkelmann, Rainer (2005). Subjective well-being and the family: results from an ordered probit model with multiple random effects. Empirical Economics, 30(3):749-761.

Abstract

The previous literature on the determinants of individual well-being has failed to fully account for the interdependencies in well-being at the family level. This paper develops an ordered probit model with multiple random effects that allows to identify the intra-family correlation in wellbeing. The parameters of the model can be estimated with panel data using Maximum Marginal Likelihood. The approach is illustrated in an application using data for the period 1984-1997 from the German Socio-Economic Panel in which both inter-generational and intra-marriage correlations in well-being are estimated.

Abstract

The previous literature on the determinants of individual well-being has failed to fully account for the interdependencies in well-being at the family level. This paper develops an ordered probit model with multiple random effects that allows to identify the intra-family correlation in wellbeing. The parameters of the model can be estimated with panel data using Maximum Marginal Likelihood. The approach is illustrated in an application using data for the period 1984-1997 from the German Socio-Economic Panel in which both inter-generational and intra-marriage correlations in well-being are estimated.

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Additional indexing

Item Type:Journal Article, refereed, original work
Communities & Collections:03 Faculty of Economics > Department of Economics
Dewey Decimal Classification:330 Economics
Language:English
Date:2005
Deposited On:11 Feb 2008 12:21
Last Modified:05 Apr 2016 12:17
Publisher:Springer
ISSN:0377-7332
Additional Information:The original publication is available at www.springerlink.com.
Publisher DOI:https://doi.org/10.1007/s00181-005-0255-7

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