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Religiosity as a Determinant of Happiness
Author(s) -
Gundlach Erich,
Opfinger Matthias
Publication year - 2013
Publication title -
review of development economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.531
H-Index - 50
eISSN - 1467-9361
pISSN - 1363-6669
DOI - 10.1111/rode.12047
Subject(s) - happiness , religiosity , stylized fact , economics , proxy (statistics) , social psychology , correlation , empirical research , econometrics , subjective well being , function (biology) , psychology , positive economics , positive correlation , mathematics , statistics , macroeconomics , medicine , geometry , evolutionary biology , biology
The empirical relation between happiness and religiosity is considered from the perspective of basic utility theory. An unbalanced cross‐country panel data set is used to study whether religiosity can be considered as a substitute in the happiness function, which itself is held to be a proxy for the utility function. We find that the same level of happiness can be maintained with high and low levels of religiosity as a result of substitution along a standard indifference curve. Our empirical results are consistent with three stylized facts of the empirical literature, namely a positive correlation between happiness and religiosity, a positive correlation between happiness and income, and a negative correlation between religiosity and income.