Does the Risk of Poverty Reduce Happiness?

Autor:	Antonio Stefano Caria, Paolo Falco
Rok vydání:	2018
Předmět:	jel:D81 HC Economics and Econometrics Longitudinal data media_common.quotation_subject jel:D60 HB poverty vulnerability risk subjective well-being happiness loss-aversion Downside risk Vulnerability Developing country Context (language use) Development Development economics Economics Sociology Subjective well-being Socioeconomics media_common Poverty jel:I32 jel:I31 Negative relationship jel:O12 Happiness Demographic economics
Zdroj:	Economic Development and Cultural Change. 67:1-28
ISSN:	1539-2988 0013-0079
DOI:	10.1086/697556
Popis:	We investigate the unexplored link between the risk of poverty and happiness in the context of a developing country. Using unique longitudinal data, we estimate workers’ vulnerability to income poverty and find a strong negative relationship between vulnerability and life satisfaction, over and above the positive income effect commonly documented in the literature. The result is robust and cannot be reduced to the effect of two-sided uncertainty. A matched behavioral experiment shows that respondents are significantly loss averse. We conclude that downside risk is an important determinant of happiness and of economic decisions under uncertainty. Policies that mitigate downward risk may thus have direct impacts on both well-being and efficiency.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_dedup___::26cf94eea3133be29b11d9491a9c14bd https://doi.org/10.1086/697556 Zobrazit plný text záznamu Plný text ve formátu PDF Plný text ve formátu HTML
Nepřihlášeným uživatelům se plný text nezobrazuje	K zobrazení výsledku je třeba se přihlásit.