The Role of Positive Expectations for Resilience to Adverse Events: Subjective Well-Being Before, During and After the Greek Bailout Referendum

Efstratia Arampatzi (), Martijn Burger, Spyridon Stavropoulos () and Louis Tay ()
Additional contact information
Efstratia Arampatzi: Erasmus University Rotterdam
Spyridon Stavropoulos: Erasmus University Rotterdam
Louis Tay: Purdue University

Journal of Happiness Studies, 2020, vol. 21, issue 3, No 10, 965-995

Abstract: Abstract Can positive expectations help foster resiliency against adversity? In this study, we used high-frequency panel data, to examine how positive as compared to neutral and negative expectations can buffer the negative impact on subjective well-being generated by an adverse event, the announcement of the Greek bailout referendum in July 2015. Results show that individuals with more positive expectations for the future before the referendum announcement experienced smaller decreases in subjective well-being and adapted quicker to this adverse event. In addition, we found evidence that individuals who shifted from positive to negative expectations before and during the adverse event, respectively, had significantly lower subjective well-being than individuals who had consistent positive expectations. This finding supports the view that optimism, or consistent positive expectations, and even positive mindsets, as indicated by lacks of shifts to negativity, can be a source of resilience that helps individuals cope and adapt quicker to adverse events.

Keywords: Positive thinking; Expectations; Subjective well-being; Panel data; Resilience; Adversity (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

Downloads: (external link)
http://link.springer.com/10.1007/s10902-019-00115-9 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:jhappi:v:21:y:2020:i:3:d:10.1007_s10902-019-00115-9

Ordering information: This journal article can be ordered from
http://www.springer. ... fe/journal/10902/PS2

DOI: 10.1007/s10902-019-00115-9

Access Statistics for this article

Journal of Happiness Studies is currently edited by Antonella Delle Fave

More articles in Journal of Happiness Studies from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().