Are Economic and Objective Indicators Sufficient to Determine Life Satisfaction? An Empirical Investigation
Zubair Arif Shah
Zubair Arif Shah, Ph.D. Scholar, Department of Economics, Marmara University, Istanbul, Turkey.
Manuscript received on 06 November 2022 | Revised Manuscript received on 17 November 2022 | Manuscript Accepted on 15 December 2022 | Manuscript published on 30 December 2022 | PP: 11-15 | Volume-2 Issue-2, December 2022. | Retrieval Number: 100.1/ijssl.B1042122222 | DOI: 10.54105/ijssl.B1042.122222
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© The Authors. Published by Lattice Science Publication (LSP). This is an open-access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: Human values and experiences have generally been ignored in determining the life satisfaction of citizens. This paper empirically tests the relationship between the dependent variable of life satisfaction with explanatory variables like income, health, educational level, religiosity, and democratic values. The data is taken from the World Value Survey with a sufficiently large sample size. The analyses of descriptive statistics and Spearman’s rank-order correlation is followed by the main analysis within the framework of the Ordered Logistic Regression model. The results reassert the importance of values and human experiences in policymaking.
Keywords: Life Satisfaction, Human Values, Policy Making, World Value Survey, Ordered Logistic Regression, Human Experiences
Scope of the Article: Social Policy