(Mis-)predicted subjective well-being following life events
Discussion paper / Internet publication
ID 3351568
Author(s) Odermatt, Reto; Stutzer, Alois
Author(s) at UniBasel Stutzer, Alois
Odermatt, Reto
Year 2015
Month and day 08-01
Title (Mis-)predicted subjective well-being following life events
Series title IZA discussion paper series
Number 9252
Pages 42
Publisher / Institution Institut zur Zukunft der Arbeit
URL http://ftp.iza.org/dp9252.pdf
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 when facing major life events. Based on individual panel data, we compare people's forecast of their life satisfaction in five years' time to their actual realisations later on. This is done after the individuals experience widowhood, marriage, unemployment or disability. We find systematic prediction errors that are at least partly driven by unforeseen adaptation.
ISSN 2365-9793
edoc-URL http://edoc.unibas.ch/40445/
Full Text on edoc Available

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