Does happiness pay? An exploration based on panel data from Russia

Graham, Carol; Eggers, Andrew; & Sukhtankar, Sandip. (2004). Does happiness pay? An exploration based on panel data from Russia. Journal of Economic Behavior and Organization, 55(3), 319-42.

Citation:

Graham, Carol; Eggers, Andrew; & Sukhtankar, Sandip. (2004). Does happiness pay? An exploration based on panel data from Russia. Journal of Economic Behavior and Organization, 55(3), 319-42.

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Abstract:

Well-being research has supported the common sense view that income, health, and other factors affect happiness. We use panel data from Russia to assess the reverse causation — that happiness itself affects income, health, and other factors. We find that people who had higher “residual happiness” in 1995 – people who were happier after correcting for the usual determinants of well-being – made more money and were in better health in a survey 5 years later. Psychologists attribute a large part of well-being to factors such as self-esteem and optimism. The same factors appear to influence individuals’ wealth and health.

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http://dx.doi.org/10.1016/j.jebo.2003.09.002

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JOUR

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Author(s):
Graham, Carol
Eggers, Andrew
Sukhtankar, Sandip

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Year Published:
2004

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Journal Name:
Journal of Economic Behavior and Organization

Volume Number:
55

Issue Number:
3

Start Page Number:
319-42

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DOI:
10.1016/j.jebo.2003.09.002

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Reference ID:
187

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Does happiness pay? An exploration based on panel data from Russia