Sex, Drugs, Alcohol and Subjective Well‐Being: Selection or Causation?
利用1997年美国全国青年纵向调查数据，通过联立方程模型控制内生性，估计吸烟、饮酒、大麻使用和危险性行为对主观幸福感的影响，发现吸烟和饮酒分别降低幸福感2.5%和2.4%，且影响持续，而其他行为无长期效应。
Summary This paper estimates the effects of risky behaviors (e.g., smoking, alcohol, marijuana, risky sex) on subjective well‐being. To identify these effects from endogenous sorting, I use information from the 1997 National Longitudinal Survey of Youth and a system of simultaneous equations for participation in four risky activities and formation of individual happiness. My results provide evidence that smoking and alcohol decrease subjective well‐being by 2.5% and 2.4%, respectively. By contrast, the relationship between having sex with multiple partners, although positive, is not statistically significant at conventional levels. Nevertheless, these effects dwindle over time until participation in any of these behaviors does not have a long‐run impact on well‐being, with the exception of smoking and alcohol consumption, which have a persistent negative impact on subjective well‐being. The results highlight the importance of controlling for endogeneity of risky behaviors and provide an explanation as to why most individuals who engage in such behaviors do not develop longer‐lasting addictions.