Please use this identifier to cite or link to this item: https://hdl.handle.net/10620/17277
Longitudinal Study: HILDA
Title: Happiness Dynamics with Quarterly Life Event Data
Authors: Frijters, P 
Shields, M 
Johnston, D 
Institution: IZA
Issue Date: Jul-2008
Pages: 25
Keywords: life events
adaptation
compensation
life satisfaction
Abstract: This paper addresses the question of when and to what extent individuals are affected by major positive and negative life events, including changes in financial situation, marital status, death of child or spouse and being a victim of crime. The key advantage of our data is that we are able to identify these events on a quarterly basis rather than on the yearly basis used by previous studies. We find evidence that life events are not randomly distributed, that individuals to a large extent anticipate major events and that they quickly adapt. These effects have important implications for the calculation of monetary values needed to compensate individuals for life events such as crime or death of spouse. We find that our new valuation methodology that incorporates these dynamic factors produces considerably smaller compensation valuations than those calculated using the standard approach.
URL: http://www.melbourneinstitute.com/hilda
Keywords: Health; Health -- Wellbeing; Life Events
Research collection: Reports and technical papers
Technical working papers and reports
Appears in Collections:Reports

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