Sometimes your best just ain’t good enough: the worldwide evidence on subjective well-being efficiency

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F67985998%3A_____%2F21%3A00542072" target="_blank" >RIV/67985998:_____/21:00542072 - isvavai.cz</a>
Result on the web
<a href="https://doi.org/10.1515/bejeap-2019-0396" target="_blank" >https://doi.org/10.1515/bejeap-2019-0396</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1515/bejeap-2019-0396" target="_blank" >10.1515/bejeap-2019-0396</a>

Result language
angličtina
Original language name
Sometimes your best just ain’t good enough: the worldwide evidence on subjective well-being efficiency
Original language description
Most of the studies on subjective well-being focus on the determinants of absolute life satisfaction or happiness levels. This paper asks an important but understudied question, namely, could countries achieve the same or even higher subjective well-being by using the same resources more efficiently? We provide the first country panel evidence on whether nations efficiently transform their endowments (income, education, and health) into subjective well-being and which factors influence the conversion efficiency. Using data on 91 countries from 2009 to 2014, we find that that well-being efficiency gains are possible worldwide. We show that poor labor market conditions as proxied by unemployment and involuntary part-time employment are associated with lower ‘subjective well-being efficiency,’ while social support, freedom, and the rule of law improve it. These findings are useful to policymakers in helping identify inefficiencies, reducing wasteful resource use, and developing policies that promote sustainable development and human well-being. Our results are robust to a battery of sensitivity checks and raise policy-relevant questions about the appropriate instruments to improve subjective well-being efficiency.
Czech name
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Czech description
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Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
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OECD FORD branch
50202 - Applied Economics, Econometrics

Project
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Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year
2021
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

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