期刊
APPLIED ECONOMICS LETTERS
卷 30, 期 14, 页码 1923-1929出版社
ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
DOI: 10.1080/13504851.2022.2083566
关键词
Subjective well-being; happiness; time preference; intertemporal choice; patience
类别
Patience is a crucial factor in determining subjective well-being differences between countries. This study finds evidence of a significant causal effect of patience on subjective well-being, which remains robust across various specifications and measures.
We show that patience is a key determinant of subjective well-being differences between countries. To address potential endogeneity bias, we apply an instrumental variable approach using the share of Protestants in the country, which prior literature has associated with patience and used as an instrument. While tentative, our findings are consistent with a sizable causal effect of patience on subjective well-being. They are robust across several specifications and hold for three different measures of subjective well-being: life satisfaction, positive affect, and negative affect.
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