Odermatt, Reto and Stutzer, Alois. (2019) (Mis-)Predicted Subjective Well-Being Following Life Events. Journal of the European Economic Association, 17 (1). pp. 245-283.
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Official URL: https://edoc.unibas.ch/73433/
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Abstract
The correct prediction of how alternative states of the world affect our lives is a cornerstone of economics. We study how accurate people are in predicting their future well-being after facing major life events. Based on individual panel data, we compare people's life satisfaction forecasts reported in the first interview after a major life event with their actual evaluations five years later on. This is done after the individuals experience widowhood, unemployment, disability, marriage, separation, or divorce. We find systematic prediction errors that seem at least partly driven by unforeseen adaptation after the first four of these events.
Faculties and Departments: | 06 Faculty of Business and Economics > Departement Wirtschaftswissenschaften > Professuren Wirtschaftswissenschaften > Politische Ökonomie (Stutzer) |
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UniBasel Contributors: | Stutzer, Alois and Odermatt, Reto |
Item Type: | Article, refereed |
Article Subtype: | Research Article |
Publisher: | Oxford University Press |
ISSN: | 1542-4766 |
Note: | Publication type according to Uni Basel Research Database: Journal article |
Identification Number: |
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Last Modified: | 17 Dec 2019 09:51 |
Deposited On: | 17 Dec 2019 09:51 |
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