Findings on happiness in Headey et al. (2008): study AU 2002

Author(s)Headey, B.; Muffels, R.; Wooden, M.
TitleMoney does not Buy Happiness...Or does it? A Reconsideration Based on the Combined Effects of Wealth, Income and Consumption.
SourceSocial Indicators Research, 2008, Vol. 87, 65 - 82
Public15+ aged, general public, Australia 2002
 Earler published as Discussion paper no. 1218 July 2004 IZA
Survey nameNot available
 HILDA panel, which started in 2001 with 13969 individuals aged 15 and over in 7682 households.
SampleProbability simple random sample
 Samples were taken from the Australian HILDA Panel.
Respondents N =11755
 N = 1255 for the first two correlations with income and income + wealth. N = 11755 for all other correlations
Non ResponseNot available
AssesmentNot available
Happiness measure(s) used
Full textSelfreport on single question: Now here are some questions concerning how satisfied - or dissatisfied - you are with various things about your life, such as your standard of living, your education etc. To indicate this, would you use this card. If you are extremely SATISFIED with something you would call of the highest number, ten. If you are extremely DISSATISFIED you would mention the lowest number, zero. If you are neither extremely satisfied nor extremely dissatisfied you would mention some number in between zero and ten - the higher the number, the more satisfied, the lower the number the less satisfied. How satisfied - or dissatisfied - are you with the following? Just read off the number that comes closest to how you feel. We have talked about various parts of your life. Now taking everything into account, how satisfied or dissatisfied are you with your life as a whole? 0 dissatisfied 1 2 3 4 5 6 7 8 9 10 satisfied
Author's labellife satisfaction
Page in publication7, 10, 1
RemarksFor ease of comparison scale has been transformed to run from 0 to 100
Finding used in
nation ranks

Correlational findings

Author's labelSubject Code
Subject description
AgeA04abCurrent age (in years)
Bad healthP06ab03Symptoms of bad health
Education(years)E01aaEducational career
Equivalised household income / 1000I01ab02Household income
Household incomeI01ab02Household income
Household incomeP10ab01Total wealth, also classified as above ↑
In working forceE02abCurrent employment status
Net worthP10abCurrent possessions
Net worthP10ab03Debts, also classified as above ↑
PartneredM02acLiving as married
PartneredM02aaMarried state (compared to non-married states), also classified as above ↑
PartneredL12ab02Steady love-relation, also classified as above ↑
R squaredS15ab03Socio-demographic + health
SexG01aaSexe (male vs female)
UnemployedE02ab03Unemployed involuntary