Resource title

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

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Resource description

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.

Resource author

Rainer Winkelmann

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Resource publish date

Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/20251

Resource license

Adapt according to the presented license agreement and reference the original author.