Economics of happiness: subjective and objective well-being
Published
2017-04-18
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Abstract
This article aims at identifying the level of happiness of Colombian people from global observations, as well as defining whether this well-being is subjective or objective. This research is based on data that was taken from the World Happiness Report of 2014 and the World Bank. The variables that determine happiness are divided into macro and micro, which define objective and subjective data respectively. Among the most significant variables of the econometric model we can find personal support, freedom and health, which means that happiness of Colombians, in a global view, is defined in the subjective well-being.
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