Heterogeneity in Reported Well‐Being: Evidence from Twelve European Countries
利用十二个欧洲国家的面板数据，通过潜在类别模型分析收入与报告幸福感的关系，发现个体将收入转化为幸福感的方式存在显著异质性，且个体特征和居住国是预测不同类别的关键因素。
This paper models the relationship between income and reported well-being using latent \nclass techniques applied to panel data from twelve European countries. Introducing both \nintercept and slope heterogeneity into this relationship, we strongly reject the hypothesis that \nindividuals transform income into well-being in the same way. We show that both individual \ncharacteristics and country of residence are strong predictors of the four classes we identify. \nWe expect that differences in the marginal effect of income on well-being across classes will \nbe reflected in both behaviour and preferences for redistribution.