The correlates of subjective overall security
by Giovanna Garrone; Guido Ortona
International Journal of Happiness and Development (IJHD), Vol. 1, No. 3, 2013

Abstract: This paper deals with an important component of human wellbeing, which has been traditionally disregarded by the economic discourse: the individual's perception of his/her overall security. We study this feature within the framework of the economics of happiness. We argue that subjective security is a multi-dimensional psychological asset and briefly discuss its substantial neglect by the economic literature (Section 1). In Section 2, we make the case for the economics of happiness approach, which we apply using data from a representative survey (described in Section 3). Multivariate analyses (Sections 4 to 6) confirm that perceived individual life security is a multidimensional item: its main correlates can be classified as economic, relational, environmental and value-related. This supports the hypothesis that some compensation is possible among different dimensions of security. Structural differences emerge between gender groups.

Online publication date: Sat, 19-Jul-2014

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