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Please use this identifier to cite or link to this item: http://hdl.handle.net/2108/536

Title: Education and happiness: a further explanation to the Easterlin paradox?
Authors: Castriota, Stefano
Keywords: education
Easterlin paradox
Issue Date: Dec-2006
Publisher: CEIS
Series/Report no.: Quaderni CEIS; 246
Abstract: Previous empirical research has found a positive impact of education on happiness, on regional and worldwide scale. In this paper I analyze the effect of absolute income on human well-being by education level. Using data from the World Bank’s World Value Survey on more than 118,000 individuals I find that the higher the education level is, the less relevant the absolute income level (GDP per capita measured in PPP constant 2000 international USD) for self-declared life-satisfaction. Higher income makes everybody happier but, everything else being equal, the marginal utility of additional income is higher for less educated people. This might partly explain the Easterlin paradox. Although the GDP level has been constantly rising from the end of World War II onwards, the average life-satisfaction in Western Europe, Japan and the United States has remained almost constant. Furthermore, average happiness levels in rich and poor countries are not as different as GDP levels. Since ...
URI: http://hdl.handle.net/2108/536
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