An Empirical Analysis of Individual's Happiness in Pakistan.

This study aims at analyzing the determinants of individual's happiness in Pakistan. However, this kind of research is hardly undertaken in Pakistan. The present study is first of its kind in Pakistan to analyze the determinants of individual happiness by using the data from World Values Survey (WVS) for three different waves, which are 1994-1998, 1999-2004, and 2010-2014. Total sample consists of 3,933 individuals with 733 individuals in the 1994-98 wave, 2000 individuals in the 1999-2004 wave and 1200 individuals in the recent wave of 2010-2014. Happiness is measured by a question regarding feeling of happiness of individuals on a four-point scale with the options, very happy, quite happy, not very happy, and not at all happy. This happiness measure is regressed on socio-economic and demographic variables, namely, age, health status, gender, marital status, education, income, children, employment status, importance of religion, family saving during past year, trust and satisfaction with financial situation of household. Ordered Probit regression technique is used for estimation. Interestingly, the percentage of „very happy" individuals has increased over time in Pakistan as in the 1994-98 wave the frequency of very happy individuals is 28% which increased to 45% in the recent wave. However, happiness is lower for males, married persons and for aged people and for persons, having children. Results suggest the need for policy makers to adopt social programs to increase income of the people and to improve health status of individuals. [ABSTRACT FROM AUTHOR]