SOAN 2120 Lecture Notes - Lecture 12: Angus Deaton, Likert Scale, Daniel Kahneman

• School: University of Guelph
• Department: Sociology and Anthropology
• Course: SOAN 2120
• Professor: David Walters

Document Summary

The correlation between income and satisfaction with life. Satisfaction with one"s life has many different aspects that have an influence to it, income being one. The relation between satisfaction with life and income, may seem like a straight forward relation to some, but is complex with other aspects that also play a role in life satisfaction. Life satisfaction, as a way people view themselves, can be measured by economic status, education and experiences, income being an important variable. This study is to examine this relation to understand how, using the data collected from the ethnic diversity survey. By observing this correlation, it furthers the knowledge in how an individual may view their life, the impacts of their income. Happiness, the well-being, and satisfa(cid:272)tio(cid:374) of a perso(cid:374), is a (cid:373)ajor aspe(cid:272)t of a(cid:374)(cid:455)o(cid:374)e(cid:859)s life, but also can be defined as an identical feeling or attitude one may have of their life.