Subjective Measures of Economic Well-Being and the Influence of Income Uncertainty

Arbeitspapier

This paper provides evidence that subjective measures of individual well being can be used to study the impact of income uncertainty from an ex ante point of view. Two different measures of subjective well being are under study: Satisfaction with household income and the income evaluation question as developed by Van Praag. It can be shown that satisfaction with income is more affected by ex ante than by ex post volatility of income. The ordinal version of the Van Praag approach might be biased if income uncertainty is essential. The paper was written in 1994.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: SOEPpapers on Multidisciplinary Panel Data Research ; No. 149

Classification and Topics

• Classification: Wirtschaft ; Single Equation Models; Single Variables: Panel Data Models; Spatio-temporal Models ; Consumer Economics: Empirical Analysis ; Criteria for Decision-Making under Risk and Uncertainty ; General Welfare; Well-Being
• Subject: Income uncertainty ; subjective well-being ; satisfaction ; income evaluation

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Schwarze, Johannes
• Event: Veröffentlichung
• (who): Deutsches Institut für Wirtschaftsforschung (DIW)
• (where): Berlin
• (when): 2008

Further information

• Handle: http://hdl.handle.net/10419/150696
• Last update: 10.03.2025, 11:43 AM CET