Dynamics of adolescents’ life satisfaction and effect of class rank percentile: Evidence from Korean panel data

Bokyung Kim and Jinook Jeong

Journal of Economic Psychology, 2017, vol. 59, issue C, 8-28

Abstract: This study investigates the dynamics of adolescents’ life satisfaction and the effects of academic success on life satisfaction using the Korean Youth Panel Survey (KYPS) 2003–2007 data. Unlike previous studies, our dynamic ordered probit models allow for persistence in life satisfaction which is attributable both to unobserved individual heterogeneity and to state dependence. First, we find that strong state dependence exists in adolescents’ life satisfaction, that is, current life satisfaction is significantly affected by the previous state. Second, we show that academic success undoubtedly has a positive effect on adolescents’ life satisfaction even after controlling for state dependence. Finally, we present that there exists an interesting gender difference: boys show stronger persistence in the state of high life satisfaction, whereas girls have stronger persistence in dissatisfaction.

Keywords: Life satisfaction; Class rank percentile; Academic success; Dynamic ordered probit; State dependence; Reference point (search for similar items in EconPapers)
JEL-codes: D03 I21 I31 (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:joepsy:v:59:y:2017:i:c:p:8-28

DOI: 10.1016/j.joep.2017.01.002

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