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The importance of income on subjective well-being
Sedlář, Jan ; Baxa, Jaromír (advisor) ; Skuhrovec, Jiří (referee)
1 Abstract My Bachelor thesis deals in a comprehensive way with the discussion unleashed by the publication of the Easterlin's article which called attention to more complex relations between the absolute level of income and the subjective well-being than the economic theory would ever assume . There is the literature shown which finds the explanation why the relation - the absolute level of income and the subjective well-being - does not hold without exceptions. A special attention is devoted to the human behaviour: comparison of the individual's situation with the situation of his reference group, comparison of the individual's situation with the situation he was accustomed to in the past, the individual's adaptation to the new situation and change of his aspiration and on the overvaluation of the benefits from the achieved goal. The first characteristic is tested experimentally with use of the analogy: the income as the evaluation of the job performance, the mark as the evaluation of the student. The experiment did not prove that the comparison of the student with his reference group would have the influence on his own performance. The second part of my thesis is focused on the description of the relationship between the gross national income per capita and the satisfaction of the inhabitants from the...
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The importance of income on subjective well-being
Sedlář, Jan ; Baxa, Jaromír (advisor) ; Skuhrovec, Jiří (referee)
1 Abstract My Bachelor thesis deals in a comprehensive way with the discussion unleashed by the publication of the Easterlin's article which called attention to more complex relations between the absolute level of income and the subjective well-being than the economic theory would ever assume . There is the literature shown which finds the explanation why the relation - the absolute level of income and the subjective well-being - does not hold without exceptions. A special attention is devoted to the human behaviour: comparison of the individual's situation with the situation of his reference group, comparison of the individual's situation with the situation he was accustomed to in the past, the individual's adaptation to the new situation and change of his aspiration and on the overvaluation of the benefits from the achieved goal. The first characteristic is tested experimentally with use of the analogy: the income as the evaluation of the job performance, the mark as the evaluation of the student. The experiment did not prove that the comparison of the student with his reference group would have the influence on his own performance. The second part of my thesis is focused on the description of the relationship between the gross national income per capita and the satisfaction of the inhabitants from the...
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Činí nás žárlivost druhých šťasnými?
Svatoš, Jiří ; Stroukal, Dominik (advisor) ; Špecián, Petr (referee)
The relative income is often cited as a reason why happiness of nations does not grow in time with growing GDP. The study replicates the methodology of several different researchers from basic scatterplots, standard OLS and ordered probit models to hierarchical linear multilevel models (HLM). The results provide evidence that the happiness is actually rising with the growing GDP, although slowly and with the GDP measured in logarithm. On the contrary, the relevance of relative income to happiness is ambiguous through all the proposed models. Furthermore, the individual characteristics like marital status or employment status are proved to explain the differences in happiness much better than income. Finally it is shown that income has similar effects on different measurements of subjective well-being (health, happiness and emotional well-being).
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Happiness For All Money: Analysis of the Relationship between Wealth and Happiness in the Czech Republic
Brožová, Dominika ; Šťastný, Daniel (advisor) ; Klesla, Arnošt (referee)
The aim of thesis was to find out how wealth or income level affects reported life satisfaction of inhabitants of the Czech Republic. The analysis used the latest available data Eurobarometer wave 78.1 of November 2012. Overall, three models were estimated by ordered probit method, where it was operated with relative income. Effect of income is then shown on all models statistically significant and with a positive direction. In addition to the first model money do not have a strong effect on happiness, but it is important to know how to manage money and to not face the problem of paying bills, or financial problems at all. As the most important factor of satisfaction appeared education, further positive effect has whether a person is satisfied with the functioning of democracy and trusts local and regional public officials.
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Can we buy happiness? Evidence from Slovak Republic
Šramko, Filip ; Chytilová, Helena (advisor) ; Svoboda, Miroslav (referee)
This thesis tries to verify the impact of income and income of reference group on subjectively experienced happiness. The thesis is following the findings of "tunnel" effect in the countries of former Eastern Bloc (Senik, 2008). By OLS estimation of sample from fourth wave of European Values Study I found the presence of weak positive effect of income on happiness. However we cannot conclude causal relationship from our findings. Effect of reference group income is not consistent across estimated models, but I found some possible suggestions of "tunnel" effect. I also found lower effect of absolute income for employed than for the remaining population in the sample. Estimations were also executed with life satisfaction variable confirming the propriety of distinguishing between happiness and life satisfaction concepts.
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