Subjective Well-Being and the Family: Results from an Ordered Probit Model with Multiple Random Effects

Rainer Winkelmann

No 1016, IZA Discussion Papers from Institute of Labor Economics (IZA)

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 intrafamily correlation in well-being. The parameters of the model can be estimated with panel data using Maximum Marginal Likelihood. The approach is illustrated in an application using panel 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.

Keywords: error components; German Socio-Economic Panel; ordered probit model (search for similar items in EconPapers)
JEL-codes: C23 C25 I31 J19 (search for similar items in EconPapers)
Pages: 26 pages
Date: 2004-02
New Economics Papers: this item is included in nep-edu
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Citations: View citations in EconPapers (21)

Published - published in: Empirical Economics, 2005, 30 (3), 749-761

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Related works:
Journal Article: Subjective well-being and the family: Results from an ordered probit model with multiple random effects (2005)
Working Paper: Subjective Well-Being and the Family: Results from an Ordered Probit Model with Multiple Random Effects (2004)
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