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Sectoral Wage Patterns, Individual Earnings and the Efficiency Wage Hypothesis

Heritability of time preference: Evidence from German twin data

Intergenerational correlations of time preference are well documented. However, there is still limited empirical evidence about the role of genetics in this transmission process. In our paper, we use data on roughly 3,000 twins from the German TwinLife project to estimate the heritability of time preference. We rely on an experimentally validated survey measure of temporal discounting, namely, self-assessed ...

The Standard Portfolio Choice Problem in Germany

We study an investment experiment with a representative sample of German households. Respondents invest in a safe asset and a risky asset whose return is tied to the German stock market. Experimental investments correlate with beliefs about stock market returns and exhibit desirable external validity at least in one respect: they predict real-life stock market participation. But many households are ...

Peer Groups, Employment Status and Mental Well-being among Older Adults in Ireland

Research has shown that employment status, such as being unemployed or retired, can be related to well-being. In addition, the direction and size of these relationships can be influenced by the employment status of one’s peer group. For example, it has been shown that the well-being of the unemployed tends to be higher for those living in high-unemployment areas compared to the unemployed living in ...

Comparing the Reliability and Validity of Global Self-Report Measures of Subjective Well-Being With Experiential Day Reconstruction Measures

Self-report measures of global well-being are thought to reflect the overall quality of people’s lives. However, several scholars have argued that people rely on heuristics, such as current mood, when reporting their global well-being. Experiential well-being measures, such as the day reconstruction method (DRM), have been proposed as an alternative technique to obtain a potentially more accurate assessment ...

Getting Older, Feeling Less? A Cross-Sectional and Longitudinal Investigation of Developmental Patterns in Experiential Well-Being

A large body of previous research suggests that people’s global evaluations of their well-being tend to increase as a function of age. Fewer studies, however, have examined the extent to which people’s in vivo experiences of well-being (e.g., felt emotions) vary as a function of age—and the existing findings are mixed. The present study used an approximately nationally representative sample of more ...

Day-To-Day Affect is Surprisingly Stable: A 2-Year Longitudinal Study of Well-Being

Previous research suggests global assessments of cognitive well-being—life satisfaction—are relatively stable over time. Far fewer studies have examined the extent to which experiential measures of affective well-being—the moods/emotions people regularly experience—are stable, especially over extended periods of time. The present study used longitudinal data from a representative sample of Germans ...

Healthier and Happier? A 3-Year Longitudinal Investigation of the Prospective Associations and Concurrent Changes in Health and Experiential Well-Being

Global well-being is positively correlated with health. Moreover, studies suggest that health and global well-being predict changes in one another across time. Fewer studies, however, have examined the extent to which health is associated with daily emotional experiences?especially longitudinally. The present study examined the longitudinal associations between health and both global and experiential ...

Income Reliably Predicts Daily Sadness, but Not Happiness: A Replication and Extension of Kushlev, Dunn, and Lucas (2015)

Kushlev, Dunn, and Lucas (2015) found that income predicts less daily sadness—but not greater happiness—among Americans. The present study used longitudinal data from an approximately representative German sample to replicate and extend these findings. Our results largely replicated Kushlev et al.’s results: Income predicted less daily sadness (albeit with a smaller effect size) but was unrelated to ...

The role of paternal risk attitudes in long-run education outcomes and intergenerational mobility

This paper studies the role of paternal risk attitudes in sons’ long-run education outcomes and in the intergenerational transmission of incomes and education. Based on 1984–2012 German Socio-Economic Panel Study data of sons and fathers, I show that fathers’ risk aversion is inversely related to sons’ long-run levels of education. A quasi-experimental setting provides no evidence for reverse causality. ...