|Appears in Collections:||Economics Journal Articles|
|Peer Review Status:||Refereed|
|Title:||Understanding fixed effects in human well-being|
|Authors:||Boyce, Christopher J|
Fixed effect vector decomposition
|Citation:||Boyce CJ (2010) Understanding fixed effects in human well-being, Journal of Economic Psychology, 31 (1), pp. 1-16.|
|Abstract:||In studies of subjective well-being, economists and other researchers typically use a fixed or random effect estimation to control for unobservable heterogeneity across individuals. Such individual heterogeneity, although substantially reducing the estimated effect of many characteristics, is little understood. This paper shows that personality measures can account for 20% of this heterogeneity and a further 13% can be accounted for by other observable between-person information. This paper then demonstrates that the use of personality measures, in a new technique developed by [Plumper, T., Troeger, V.E. (2007). Efficient estimation of time-invariant and rarely changing variables in finite sample panel analyses with unit fixed effects, Political Analysis, 15(2), 124-139.], can help researchers obtain improved estimates for important characteristics such as marital status, disability and income. The paper argues that this has important practical implications.|
|Rights:||Published in Journal of Economic Psychology by Elsevier; Elsevier believes that individual authors should be able to distribute their accepted author manuscripts for their personal voluntary needs and interests, e.g. posting to their websites or their institution’s repository, e-mailing to colleagues. The Elsevier Policy is as follows: Authors retain the right to use the accepted author manuscript for personal use, internal institutional use and for permitted scholarly posting provided that these are not for purposes of commercial use or systematic distribution. An "accepted author manuscript" is the author’s version of the manuscript of an article that has been accepted for publication and which may include any author-incorporated changes suggested through the processes of submission processing, peer review, and editor-author communications.|
|Fixed_Effects_Human_Well-Being_Boyce2010_JOEP.pdf||440.45 kB||Adobe PDF||View/Open|
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