TY  - RPRT
        AU  - Winkelmann, Rainer
        TI  - Subjective Well-Being and the Family: Results from an Ordered Probit Model with Multiple Random Effects
        PY  - 2004/Feb/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 1016
        UR  - https://www.iza.org/publications/dp1016
        AB  - The previous literature on the determinants of individual well-being has failed to fully account for the interdependencies in well-being at the family level. This paper develops an ordered probit model with multiple random effects that allows to identify the intrafamily correlation in
well-being. The parameters of the model can be estimated with panel data using Maximum Marginal Likelihood. The approach is illustrated in an application using panel data for the
period 1984-1997 from the German Socio-Economic Panel in which both inter-generational and intra-marriage correlations in well-being are estimated.
        KW  - error components
KW  - German Socio-Economic Panel
KW  - ordered probit model
        ER  -