Happiness in Life Domains: Evidence from Bangladesh Based on Parametric and Non-Parametric Models

Minhaj Mahmud and Yasuyuki Sawada

No CIRJE-F-987, CIRJE F-Series from CIRJE, Faculty of Economics, University of Tokyo

Abstract: This paper applies a two layer approach to explain overall happiness both as a function of happiness in different life-domains and conventional explanatory variables such as income, education and health etc. Then it tests the happiness-income relationship in different happiness domains. Overall, the results suggest that income explains a large part of the variation in total happiness and that income is closely related with domain-specific happiness, even with non-economic domains. This is also consistent with a hypothesis that income and happiness will move hand in hand in developing countries, suggesting that income is a good summary measure of well-being and welfare for low income societies. Yet, the nonparametric estimation confirms the concavity of happiness function in economic domain, which is consistent with Easterlin paradox.

Pages: 28 pages
Date: 2015-08
New Economics Papers: this item is included in nep-ger and nep-mon
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:tky:fseres:2015cf987

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