Happiness functions with preference interdependence and heterogeneity: the case of altruism within the family |
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Authors: | Adrian Bruhin Rainer Winkelmann |
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Institution: | (1) University of Zurich, Socioeconomic Institute, Zurichbergstrasse 14, 8032 Zurich, Switzerland |
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Abstract: | This study investigates the prevalence and extent of altruism by examining the relationship between parents’ and their adult
children’s subjective well-being in a data set extracted from the German Socio-Economic Panel. To segregate the share of parents
with altruistic preferences from those who are selfish, we estimate a finite mixture regression model. We control for various
sources of potential bias by taking advantage of the data’s panel structure. To validate our modeling approach, we show that
predicted altruists indeed make higher average transfer payments.
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Keywords: | Altruism Subjective well-being Finite mixture regression models |
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