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THE IMPORTANCE OF AFFECTIVE AND COGNITIVE DIMENSIONS OF HAPPINESS - ANALYSIS IN EUROPEAN COUNTRIES

Ciorbagiu Ioana and Stoica Adrian
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Ciorbagiu Ioana: FACULTY OF ECONOMICS AND BUSINESS ADMINISTRATION, WEST UNIVERSITY OF TIMISOARA, ROMANIA
Stoica Adrian: FACULTY OF ECONOMICS AND BUSINESS ADMINISTRATION, WEST UNIVERSITY OF TIMISOARA, ROMANIA

Annals - Economy Series, 2020, vol. 6, 138-148

Abstract: The aim of this paper is to assess the influence of some cognitive and affective determinants on happiness, as an essential dimension of life satisfaction or higherquality of life. In this relationship analysis on 30 European countries, we are using the concept of happiness, as an assembly of hedonic and cognitive components, based on Gallup World Poll annual data for a period between 2007 and 2019. From simple observation of data, between countries are obvious big differences in size of the life ladder index, whose score captures the perception from the worst possible life to the best possible life. The econometric estimates reveal that not a reduced impact variables can be responsible for a better or worse happiness, but there is a complex and multidimensional combination of objective and subjective measures underlying the human perceptions on well-being. Interesting, good social relations, positive affect, degree of freedom in decision making, a democratic society and a real institutional trust are elements that support the increase of happiness. Income inequality, corruption or negative emotions are reflected in the perception of a reduced happiness. A relationship unanimously appreciated as being direct between the income level and happiness is partially confirmed by the analysis,a reducing inequality in its distribution being necessary.

Keywords: average happiness; life satisfaction; positive negative affect; subjective well-being (search for similar items in EconPapers)
Date: 2020
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