著者

久米 功一

出版者

生活経済学会

雑誌

生活経済学研究 (ISSN:13417347)

巻号頁・発行日

vol.29, pp.33-43, 2009

参考文献数

15

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To examine the causality between subjective happiness of individuals and their earnings, we estimate effects of happiness on the earnings by using panel datasets. Specifically, following an empirical method proposed by Graham et al (2004), we used residuals of the happiness regression as unobservable subjective happiness to estimate earnings equations. The empirical results show that the degree of subjective happiness is determined by relative income position and prospect for the future, and that unobservable happiness can be regarded as cognitive biases which have different effects on earnings by gender and income levels. These evidences suggest that we need to pay more attention to prospect, relativity and unobservable happiness in the future happiness research.