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Twins, income, and happiness: Evidence from China.
- Source :
-
Proceedings of the National Academy of Sciences of the United States of America . 6/20/2023, Vol. 120 Issue 25, p1-8. 24p. - Publication Year :
- 2023
-
Abstract
- We estimate the causal effect of income on happiness using a unique dataset of Chinese twins. This allows us to address omitted variable bias and measurement errors. Our findings show that individual income has a large positive effect on happiness, with a doubling of income resulting in an increase of 0.26 scales or 0.37 SDs in the four-scale happiness measure. We also find that income matters most for males and the middle-aged. Our results highlight the importance of accounting for various biases when studying the relationship between socioeconomic status and subjective well-being. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 00278424
- Volume :
- 120
- Issue :
- 25
- Database :
- Academic Search Index
- Journal :
- Proceedings of the National Academy of Sciences of the United States of America
- Publication Type :
- Academic Journal
- Accession number :
- 164412057
- Full Text :
- https://doi.org/10.1073/pnas.2221884120