Subjective Well-Being and the Family: Results from an Ordered Probit Model with Multiple Random Effects
Rainer Winkelmann ()
No 204, SOI - Working Papers from Socioeconomic Institute - University of Zurich
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: ordered probit model; error components; german socio-economic panel (search for similar items in EconPapers)
JEL-codes: C23 C25 I31 J19 (search for similar items in EconPapers)
Date: 2002-05, Revised 2004-01
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Published in Empirical Economics 30, 2005, pages 749-761
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http://www.econ.uzh.ch/static/wp_soi/wp0204.pdf Revised version, 2004 (application/pdf)
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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Persistent link: https://EconPapers.repec.org/RePEc:soz:wpaper:0204
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