Correlational finding on Happiness and Total wealth
Subject code: P12ab01

StudyHochman & Skopek (2013): study DE 2006
TitleThe Impact of Wealth on Subjective Well-Being: A Comparison of Three Welfare-State Regimes.
SourceResearch in Social Stratification and Mobility, 2013, Vol. 34, 127 - 141
URLhttp://www.sciencedirect.com/science/article/pii/S0276562413000280
Public50+ aged general public, Germany, 2006
SampleProbability multistage stratified area sample
Non-Response
Respondents N =2390

Correlate
Author's labelDebts and Wealth
Page in Source 6, 7
Our classificationTotal wealth, code P12ab01
Operationalization
Gross wealth controled for debts, expressed in Euro PPP
1 lowest quartile: poor
2 
3
4: highest quartile: rich
Observed distributionM: 1: 11, 2&3: 173, 4: 653; All: 237

Observed Relation with Happiness
Happiness
Measure
StatisticsElaboration/Remarks
O-SLu-u-sq-n-11-cDM=+
Poor      M = 7,1
Middle    M = 7,6
Rich      M = 8,o
Set Image size:   

O-SLu-u-sq-n-11-cBeta=-.13 p < .05
POOR (vs two middle quartiles 2&3)
O-SLu-u-sq-n-11-cBeta=+.11 p < .05
RICH (vs two middle quartiles 2&3)

Beta' s controlled for:
  - gender
  - household size
  - age
   -migrant status
  - married
  - education
  - child
  - employed, unemployed,
  - homemaker
  - health
  - income
O-SLu-u-sq-n-11-cBeta=+.07 ns
POOR (vs two middle quartiles)
O-SLu-u-sq-n-11-cBeta=+.06 ns
RICH (vs two middle quartiles)

Beta's additionally controlled for:
- subjective economic hardship.


Appendix 1: Happiness measures used
CodeFull Text
O-SLu-u-sq-n-11-cSelfreport on single question:

How satisfied are you with your life?
10 completely satisfied
9
8
7
6
5
4
3
2
1
0 completely dissatisfied


Appendix 2: Statistics used
SymbolExplanation
Beta STANDARDIZED REGRESSION COEFFICIENT by LEAST SQUARES (OLS)
Type: test statistic.

Measurement level: Correlates: all metric, Happiness: metric.
Range: [-1 ; +1]

Meaning:
beta > 0 a higher correlate level corresponds to a higher happiness rating on average.
beta < 0 a higher correlate level corresponds to a higher happiness rating on average.
beta = 0 no correlation.
beta = + 1 or -1 perfect correlation.
DMDIFFERENCE of MEANS
Type: descriptive statistic only.
Measurement level: Correlate: dichotomous, Happiness: metric
Range: depending on the happiness rating scale of the author; range symmetric about zero.

Meaning: the difference of the mean happiness, as measured on the author's rating scale, between the two correlate levels.
Source:
Ruut Veenhoven, World Database of Happiness, Collection of Correlational Findings, Erasmus University Rotterdam.
https://worlddatabaseofhappiness.eur.nl