The reasons for writing
Happiness is a subjective concept that varies based on individual perspectives and choices Professor Ngo Bao Chau illustrates this idea through the metaphor of a glass of water; describing it as half full or half empty is equally valid, highlighting how our interpretations shape our understanding of happiness Ultimately, happiness is an abstract notion influenced by personal context and perception.
This is a topic that attracts many researchers, specifically, many philosophical theories and religious ideas have found their own way of explaining happiness
In 1835, Karl Marx expressed that true happiness lies in bringing joy to others, while Democritus defined happiness as a pleasant feeling Epicurus believed that happiness is found in living free from the fear of death Additionally, Confucian teachings emphasize the importance of intellectuals using their knowledge and skills for the betterment of society, with the ultimate fulfillment for a gentleman being the contribution to the community and the establishment of a good reputation.
Plato characterized happiness as a unique state sought for its own sake, emerging from a commitment to wisdom and virtue In contrast, Descartes distinguished between elements within our control, like virtue and wisdom, and those beyond our influence, such as wealth and health He proposed that individuals who possess wisdom and virtue, along with favorable circumstances, experience a heightened sense of contentment, thus intertwining the pursuit of happiness with both moral integrity and fortune.
The New Economics Foundation (NEF) incorporates the concept of happiness as life satisfaction into its analysis, using it as one of the three key components of the Happy Planet Index (HPI), which will be explored further in the subsequent chapters of this study.
1 Carol Graham, The Pursuit of Happiness, An Economy of Well-Being
In developing countries, income levels have surged significantly compared to previous generations Despite this financial growth, a pressing question remains: Are individuals truly happy and satisfied with their current lives?
Research’s purpose and methods
Happiness, defined as life satisfaction, is a key focus of the New Economics Foundation (NEF) and serves as one of the three primary components of the Happy Planet Index (HPI), which will be explored further in the subsequent chapters of this study.
In developing countries, incomes have significantly risen compared to previous generations, yet the crucial question remains: are individuals truly happy and satisfied with their current lives?
This research aims to analyze the key factors influencing people's happiness and satisfaction, including age, gender, health, education level, marital status, unemployment, religious beliefs, political views, and geographic regions By examining how these variables impact happiness, the study offers valuable insights and policy recommendations to enhance overall well-being and satisfaction among individuals.
This research investigates the relationship between income and happiness, examining whether a positive correlation exists It also explores how good health can enhance happiness, while assessing the negative impacts of unemployment and divorce on overall well-being Additionally, the study considers the influence of social capital factors, such as religious and political beliefs, on happiness The findings are structured across three comprehensive chapters.
Chapter 1: Related studies and theories
Chapter 3: Estimation and Statistical Inference
RELATED STUDIES AND THEORIES
Related Studies
Happiness is an emotional state marked by feelings of joy, satisfaction, contentment, and fulfillment Although it can be defined in various ways, it generally encompasses positive emotions and overall life satisfaction This broad interpretation has sparked controversy regarding its precise definition.
Philosophers and psychologists around the globe have offered diverse interpretations of happiness Daniel Kahneman describes happiness as "what I experience here and now," a definition commonly reflected in dictionaries In contrast, Ruut Veenhoven defines happiness as the "total appreciation of one's existence as-a-whole."
2According to Kahneman, this is more significant to people than recent experience
Jeremy Bentham, an influential English philosopher and social reformer, proposed a distinct ethical framework centered around the principle that "the greatest happiness of the greatest number" serves as the benchmark for determining right and wrong He developed the felicific calculus, a systematic method designed to quantify the potential pleasure generated by specific actions, thereby providing a measurable approach to ethical decision-making.
This research emphasizes the hedonic perspective of happiness, defined by Ryan and Deci (2001) as the presence of positive emotions and the absence of negative emotions By adopting this approach, we aim to objectively quantify related metrics of happiness.
Gross Domestic Product (GDP) serves as a crucial indicator for assessing a nation's total income and is often viewed as a measure of economic health However, a high GDP does not necessarily correlate with increased happiness or social welfare In 1974, economist Richard Easterlin challenged the traditional view of GDP by analyzing happiness survey data from 19 countries over three decades, highlighting the distinction between economic output and overall well-being.
2 The concept of happiness - Erasmus Happiness Economics Research Organisation
3 Jeremy Bentham (1748-1832) - Competition and Appropriation
The relationship between GDP and welfare is often misunderstood, as highlighted by the Easterlin paradox, which asserts that while money and happiness may be linked in the short term, long-term happiness does not necessarily rise with increasing income This concept has established Richard Easterlin as a leading figure in the field of Happiness Economics.
“The goal is to maximize happiness, not income.”
Richard Layard, like Richard Easterlin, emphasizes the critical importance of human happiness for both society and individuals As a leading advocate for happiness, he argues that progressive taxation can significantly enhance societal well-being Layard asserts that the primary goal of government should focus on creating well-being rather than merely accumulating wealth His perspective on happiness economics is grounded in three fundamental principles that support this vision.
“The way we judge the situation or the state of a nation is by the happiness of the people, especially the happiness of the least-happy people.”
We should strive to create the best possible world through our actions and interactions with others, focusing on maximizing happiness, particularly for those who are the least happy.
“Governments should also be trying to produce the greatest happiness in people, especially preventing misery That was the view of Thomas Jefferson; I think it was the right view.” 4
The Happy Planet Index (HPI) introduced by the New Economics Foundation in
In 2006, a study assessed the efficiency with which residents of various countries utilize environmental resources by examining life expectancy, well-being, and ecological footprint The findings revealed that it is possible for individuals to enjoy long, fulfilling lives while remaining within sustainable limits of the Earth's resources.
How is the HPI calculated?
The HPI is determined by dividing the expected "happy life years" by the resource consumption of a nation The average life expectancy is multiplied by the number of
"Happy life years" are evaluated on a scale from 1 to 10, utilizing both subjective assessments and objective data To determine resource consumption, the per capita CO2 footprint is calculated, which represents the area necessary to absorb the carbon dioxide emissions generated by a country's fossil fuel usage, including oil, natural gas, and coal.
Happy Planet Index 5 How is the Happy Planet Index different?
The Happy Planet Index differs from other metrics like the Quality of Life Index and the World Happiness Report by not ranking countries based on quality of life or happiness Instead, it evaluates how effectively countries utilize limited natural resources to achieve the greatest possible outcomes in terms of long, fulfilling lives, emphasizing sustainability and well-being.
The Happy Planet Index does not consider societies truly successful if they deliver
“good lives” which use more resources than the earth can support OR if they consume within the Earth’s limits, but have very low levels of wellbeing or life expectancy
HPI is dedicated to fostering happy and healthy lives for all by tackling poverty and deprivation The Happy Planet Index serves as a guiding tool for countries to achieve meaningful progress.
What are (according to its proponents) the advantages of the HPI?
The Human Progress Indicator (HPI) emphasizes the essential question of why we engage in economic activities, advocating that our primary objective should be to live long, fulfilling lives while safeguarding the ecological systems that support this aim It argues that mere economic growth, as measured by GDP, should not be the ultimate goal.
5 The data sources used by the HPI are: UN Human Development Reports for life expectancy, the World Database of Happiness by
R Veenhoven for life satisfaction and the Global Footprint Network for the ecological footprint
- The HPI offers a clear path to a sustainable, fair future by combining life satisfaction with ecological aspects
- The index is based on relatively simple calculations, making it easy to understand (and therefore to communicate)
- It enables comparisons between countries
What are (according to its critics) the disadvantages of the HPI?
- The HPI disregards issues such as political freedom, human rights or labour rights
- The concept of CO2 footprint is also controversial, in part because it is restricted to CO2 emissions, ignoring e.g water consumption
- The available data is not always satisfactory
- Misleading name: the HPI is not an indicator of happiness, but of ecological efficiency in achieving satisfaction in a country
- Many critics are fundamentally skeptical about the measurability of “subjective well-being”
- “Happiness” and “satisfaction” are both subjective and individual, besides being culturally dependent
The influence of politics on happiness and satisfaction raises questions about the effectiveness of the Happy Planet Index (HPI) in evaluating political initiatives Nationalist policies may enhance social cohesion and overall satisfaction within a nation, prompting a debate on whether such outcomes should be viewed positively.
Well-being is defined by the absence of illness and encompasses various aspects of physical, mental, emotional, and social health It is closely linked to happiness, as an individual's perception of their life and self greatly influences their overall well-being.
Theories
The top-down perspective suggests that an individual's perception of events is shaped by their inherent personality traits, leading to a general tendency to view life either positively or negatively Set point theory posits that a person's baseline level of subjective well-being (SWB) is largely predetermined by genetic factors, with studies indicating significant heritability for both positive (40%) and negative affectivity (55%) This theory is further supported by twin studies, which highlight the genetic influence on happiness levels However, these studies also acknowledge that some individuals may experience long-term changes in their SWB.
Heritability studies on subjective well-being (SWB) have limitations, as noted by Diener et al., primarily because they focus on long-term SWB within contemporary Western populations These findings may not be applicable to individuals in harsher environments and fail to provide clear indicators of genetic influences on well-being.
Furthermore, heritability estimates vary between studies
Research indicates that personality plays a crucial role in long-term subjective well-being (SWB), supporting the idea of a genetically influenced tendency towards SWB This concept is encapsulated in the dynamic equilibrium model of SWB, which suggests that personality underpins emotional responses While external events can temporarily shift individuals away from their emotional baseline, these changes are often short-lived, with most people eventually returning to their original state of well-being.
A bottom-up approach suggests that positive experiences contribute to overall happiness, influenced by external events and socioeconomic factors like health and marital status This strategy is based on the idea that happiness arises from fulfilling basic human needs, which are considered universal Research supports this view, indicating that daily positive events correlate with increased positive emotions, while negative experiences are associated with heightened negative emotions.
Research shows that personality plays a significantly larger role in self-reported subjective well-being (SWB) compared to external events The concept of hedonic adaptation, often described as a "hedonic treadmill," explains why external factors have a limited impact on SWB This theory suggests that although positive or negative experiences may temporarily alter an individual's SWB, people eventually adjust to their circumstances and revert to their personal SWB baseline or "setpoint."
The hedonic treadmill theory suggests that individuals typically return to a neutral level of subjective well-being (SWB) after experiencing various life events However, research indicates that most people's baseline SWB is slightly positive, as they generally report feeling content when not facing negative circumstances This concept has evolved to show that adaptation to life situations varies; individuals may slowly adjust to significant events like imprisonment, quickly adapt to losses such as the death of a loved one, and remain unaffected by other experiences, including noise and sexual encounters.
This graph describes the relationship between life satisfaction (on a scale ranging from 0 to 10) and GDP per capita of some countries From the graph we can see that:
- High-income countries such as the US, Singapore, and South Korea (where GDP per capita is over $40,000) have high levels of happiness and satisfaction (from 6 to 7 on a 10-point scale)
- However, Vietnam has an average GDP per capita income (under $10,000), lower than China and Russia, but has similar happiness and satisfaction levels to China and Russia (between 5 and 6 points)
Recent statistics indicate that GDP per capita alone does not determine an individual's or a country's happiness level Factors such as national stability, security, effective policies, and social support play a crucial role in influencing overall satisfaction and well-being.
Happier individuals may become less engaged in politics due to their contentment, leading to concerns about a potential "emptying of democracy." However, research indicates that increased happiness can enhance prosocial behaviors, as happier people tend to be more generous, often donating to charities and volunteering in their communities.
Religiously attached adults and inactive religious group members are likely to be less content and less civically involved than people who actively participate in religious congregations
Job seekers are likely to gain more satisfaction from securing employment, which suggests that a higher unemployment rate leads to decreased overall well-being This is because individuals are unable to fully enjoy their potential leisure or goods, as their joblessness limits their opportunities for fulfillment.
A study revealed that individuals who divorce from low-conflict marriages often experience a decline in happiness, indicating that leaving a marriage that may feel unhappy but lacks conflict is not a guaranteed route to greater happiness Notably, around half of all divorces occur in low-conflict situations where one or both partners are dissatisfied, yet there is minimal fighting involved.
Research shows that unmarried individuals who cohabit with a partner experience greater happiness compared to those who live alone, though this happiness is influenced by cultural context In individualistic societies, cohabiting partners report higher life satisfaction than both single and even married individuals Conversely, in collectivist societies, this trend does not hold true, indicating that cultural factors play a crucial role in the relationship between cohabitation and happiness.
According to Asian historical and cultural traditions, women tend to be happier than men because they choose to be more peaceful, especially when there are negative socio-economic changes
The work of Professor Andrew Osvald and colleagues demonstrates that happiness throughout life is U-shaped, also known as the "happiness curve"
A recent study in the Journal of Economic & Organizational Behavior reveals that unhappiness levels are low in youth, gradually rising until they peak in our late 40s, after which they begin to decline This research also supports the notion of a "midlife crisis" as a widespread phenomenon across various countries.
Numerous studies indicate a strong correlation between education and happiness, with research by Gabriele Ruiu and Maria Laura Ruiu highlighting how the income expectations of highly educated individuals in Italy influence their happiness perceptions Findings reveal that those with higher education typically earn more, and this increased personal income significantly contributes to their overall happiness levels.
Numerous studies indicate a strong link between human health and happiness, highlighting that good health contributes positively to overall happiness, while poor health can lead to unhappiness Research published in the Neurobiology of Aging reveals that individuals with high life satisfaction tend to experience more stable heart rates and lower blood pressure compared to those who report lower levels of happiness.
Individuals who perceive their health as "good" or "outstanding" generally report higher subjective well-being (SWB) compared to those who view their health as "fair" or "poor," highlighting a strong positive correlation between health and SWB Meta-analyses indicate that self-assessments of health are more closely linked to SWB than physician evaluations The relationship between SWB and health appears to be bidirectional, as evidence suggests that positive self-perception can enhance both physical and mental well-being Longitudinal studies reveal that factors such as optimism and positive affect are predictive of better long-term health outcomes, while depression is linked to higher mortality and deteriorating health conditions Although establishing causality is complex, numerous studies indicate that optimistic attitudes benefit immune and cardiovascular health, with mood changes affecting these physiological responses Therapeutic approaches that enhance SWB, such as relaxation exercises and meditation, have been shown to lower blood pressure and improve positive emotions However, the long-term effects of mood on health and whether certain types of SWB independently predict health outcomes remain unclear Meditation, in particular, may enhance happiness and contentment by boosting self-esteem and reducing anxiety.
ANALYTICAL METHODS
Objects and scope of the research
This research examines how various factors, including age, gender, health, education, region, marital status (married or divorced), unemployment, religion, politics, income, and the significance of work, leisure, family, and friends, impact the Happiness and Prosperity Index (HPI) By analyzing these variables, the study aims to uncover the relationships between personal and social factors and their influence on overall happiness and well-being.
- Scope of the research: People living in 59 countries/territories
Research Methods
This study investigates the concept of happiness through the lens of current life satisfaction, utilizing data from the World Value Survey and the Happy Planet Index By employing multiple regression analysis in SPSS software, the research examines the varying degrees of influence that different factors exert on happiness The quantitative analysis is based on a comprehensive dataset derived from a questionnaire, encompassing 1,381 observations.
Regression analysis employs Ordinary Least Squares (OLS) to estimate the relationships between a dependent variable and various independent variables This study focuses on understanding the factors influencing individual happiness, measured on a scale from 1 (Dissatisfied) to 4 (Very Happy) Key independent variables examined include Age, Gender, Health, Education, Region, Marital Status (Married or Divorced), Unemployment, Religion, Political Views, Income, and the importance placed on Work, Leisure, Family, and Friends.
Within the knowledge of the subject, to verify the dependent relationship model of
Our research team employs the Ordinary Least Squares (OLS) method, utilizing SPSS, Microsoft Excel, and Word software to analyze data on "happiness" and its related variables The process involves several fundamental steps to construct an effective econometric model.
1 Stating the theory and hypothesis about the relationship between the variables in the model
3 Choosing the right econometric model
HP = 0 + 1 (Politics) + 2 (Religion) + 3 (Unemployment) + 4 (Divorced) + 5 (Marriage) + 6 (Gender) + 7 (Age) + 8 (Education) + 9 (Health) + 10 (Income) +
11(Work Important) + 12 (Leisure Time) + 13 (Family Important) + 14 (Friends
HP = ˆ 0 + ˆ 1 (Politics) + ˆ 2 (Religion) + ˆ 3 (Unemployment) + ˆ 4 (Divorced) + ˆ 5
(Marriage) + ˆ 6 (Gender) + ˆ 7 (Age) + ˆ 8 (Education) + ˆ 9 (Health) + ˆ 10 (Income) +
ˆ (Work Important) + ˆ 12 (Leisure Time) + ˆ 13 (Family Important) + ˆ 14 (Friends
0 is the intercept of the regression model
i is the slope of the independent variable u is the noise term of the regression model
ˆ is an estimate of βi e is residual = μ̂ (estimate of μ)
The table below provides an interpretation of change and expectations on the link between dependent and independent variables:
Variables Types Description Expected sign
1 HP Dependent variable Dependent variable
1 if there is a political organization, 0 otherwise
1 if participating in a religious organization,
4 Unemployment Independent variable 1 if unemployed, 0 otherwise -
5 Divorced Independent variable 1 if divorced, 0 otherwise -
6 Marriage Independent variable 1 if married, 0 otherwise +
7 Gender Independent variable 1 if male, 2 if female +/-
8 Age Independent variable Age variable ranges from 18 to 99 by age +/-
9 levels from 1 (not study at all) to 9
Health variable on a scale from 1 (very bad) to 4 (very good)
On a scale from 1 (very low) to 10 ( very high)
On a scale from 1 (very important) to 4 (not at all important)
On a scale from 1 (very important) to 4 ( not at all important)
On a scale from 1 (very important) to 4 ( not at all important)
On a scale from 1 (very important) to 4 ( not at all important)
Table 1 Expectations for Signals and Variable Interpretation
Description of the data and data processing
This study utilizes data from the 2017-2022 World Values Survey, which offers insights into individual socioeconomic variables, attitudes, and values across various life aspects The dataset is based on responses to a standardized questionnaire featuring 250 diverse questions.
The World Values Survey (WVS) utilized a standardized sample survey method to gather data through national interviews with individuals aged 18 and older, ensuring no upper age limit To achieve a representative national sample, a stratified random sampling technique was employed, focusing on various social statistical areas, counties, census units, electoral divisions, and population registers This approach allows the WVS to provide extensive and representative data for the country, covering key variables related to happiness analysis, including income, employment, health, and education, alongside important demographic factors such as age, gender, nationality, and religion.
In our analysis of happiness, we concentrated on 10 key variables from a larger data set of 265, including politics, health, religion, unemployment, marital status, gender, age, education, and region A challenge we encountered was the presence of "no answer" or "unknown" responses, necessitating the removal of these entries Consequently, we reduced our initial sample size from 83,975 to a final set of 1,381 observations Additionally, the inconsistent ordering of survey questions posed another issue in our data analysis.
In our analysis, we categorized happiness levels from "Dissatisfied" (4) to "Very happy" (1), while health levels ranged from "Very good" (1) to "Bad" (4) To facilitate data utilization, we systematically rearranged the order of these variables from low to high, transforming bad outcomes into good ones across all metrics.
ESTIMATION AND STATISTICAL INFERENCE
Estimation Model
/RESIDUALS HISTOGRAM(ZRESID) NORMPROB(ZRESID)
Variables Regression coefficient Standard error T sig
Verify and correct model defects
In this analysis, we will assess the significance of the regression coefficients for each independent variable using the Student's t-test The null hypothesis (H0) posits that the regression coefficient of the independent variable X1 is equal to zero.
The analysis reveals that the variables of religion, divorce status, marriage, age, health, income, leisure time, and the importance of friends all exhibit statistical significance with p-values less than 0.05 This leads us to reject the null hypothesis (H0), indicating that the regression coefficient for the variable X1 is significantly different from zero.
X1 has an impact on the dependent variable
The analysis indicates that the variables of politics, unemployment, gender, education, work importance, and family importance all have significance levels greater than 0.05 Consequently, we accept the null hypothesis (H0), suggesting that the regression coefficient for the variable X1 is statistically zero, meaning that X1 does not have a significant impact on the dependent variable.
Conclusion: the independent variables politics, unemployment, gender, education, work important and family important have no impact on the dependent variable
3.1.2 Verify the explanatory level of the model
Model R R Square Adjusted R Square Std Error of the Estimate
Adjusted R Square = 0.173, that is, 14 independent variables have influenced 17.3% of the change of HP variable, the remaining 82.7% is the effect of automatic error natural and out-of-model variables
Hypothesis H0: R 2 = 0 The F test is used to test this hypothesis Test results:
+ Sig < 0.05: Reject the hypothesis H0, that is, R 2 ≠ 0 statistically significant, the regression model is suitable
Sig > 0.05: Accept the hypothesis H0, that is, R 2 = 0 statistically significant, the regression model is not suitable
Model Sum of Squares df Mean Square F Sig
The sig value of the F test is 0.000 < 0.05, therefore, the regression model is suitable
Corresponding to each independent variable, VIF < 10, there is no Multicollinearity
We have n 0, k’, dL = 1,528 , dU = 1,824 (based on Durbin-Watson Statistic: 1 Per Cent Significance Points of dL and dU)
Std Error of the Estimate Durbin-Watson
The Durbin-Watson Test:Interpreting the Results
Our Durbin-Waston value is 1,916
Based on The Durbin-Watson Test, dU < d < 2 Therefore, there is no prove of positive autocorrelation nor negative autocorrelation
3.1.6 Verify the phenomenon of residual variance changes
Using Spearman rank correlation coefficient analysis to test the residual variance change phenomena
The significance value of the rank correlation between the residuals and the independent variables—Politics, Divorce, Gender, Education, Income, Leisure Time, and Importance of Friends—exceeds 0.05, indicating that the residual variance is consistent and suggesting that the assumption of homoscedasticity holds true.
The significance value of the rank correlation between absres and the other independent variables is below 0.05, indicating a potential for heteroscedasticity Nevertheless, the scatter plot reveals that the data does not exhibit excessive divergence and remains generally stable Therefore, while heteroscedasticity may be present, it is not significant enough to undermine the utility of the results.
Hypothesis testing
3.2.1 Verify the relevance of results with expectation
From the above table we can observe that:
Participation in a political system is associated with a 0.044% increase in the expected happiness index compared to those who do not engage in political activities, assuming all other factors remain constant.
The relationship between HP and Politics is a positive relationship, this result is as expected
Participation in a religious organization is associated with a 0.017% increase in the average expected happiness index compared to individuals who do not engage in such activities, assuming all other factors remain constant.
The relationship between HP and Religion is a positive relationship, this result is as expected
- 3 = -0.042: With other factors constant, the average value of the expected happiness index of the unemployed is 0.042% lower than that of a non-employed person
The relationship between HP and Unemployment is a negative relationship, this result is as expected
- 4 = 0.143: With all other factors constant, the mean value of the divorce index's happiness expectation is 0.143%
This result is exactly as expected
A 1% increase in the marriage index leads to a 0.175% decrease in the expected happiness index, indicating a negative relationship between happiness and marriage This outcome aligns with anticipated results.
- 6 = 0.060: With all other factors constant, the mean value of the expected happiness level of a male citizen is 0.060% higher than that of a female citizen
This result is exactly as expected
- 7 = 0.133: When people's age increases by 1% with all other factors constant, the mean value of people's expected happiness index increases by 0.133%
The relationship between HP and AGE is positive, this result is as expected
An increase of 1% in the age of the Vietnamese population leads to a 0.0133% rise in their expected happiness index, indicating a positive correlation between happiness and health This outcome aligns with anticipated expectations regarding the relationship between these two factors.
- 9 = -0.091: When the education level of the Vietnamese people increases by 1% with all other factors constant, the average value of the Vietnamese people's expected happiness index increases by 0.091%
The relationship between HP and Education is inverse, this result is as expected
- 10 = 0.339: When the health index increases by 1% with all other factors unchanged, the average value of the Vietnamese people's happiness expectation increases by 0.339%
The relationship between HP and Health is a positive relationship, this result is as expected
- 11 = -0.162: With all other factors constant, the average value of the happiness index expectation of a person with a low income is 16.2% lower than that of a person with a high income
The relationship between HP and Income is negative, this result is different from the initial expectation
The happiness index expectation of individuals who do not prioritize work is 2.3% lower than that of those who do, indicating a positive relationship between happiness and the importance placed on work.
- 13 = 0.135: With all other factors constant, the average value of happiness index expectation of a person without leisure time is 13.5% lower than that of a person with leisure time
The relationship between HP and Leisure Time is a positive relationship, this result is as expected
The analysis reveals that, when all other factors are held constant, individuals who do not prioritize family have an average happiness index expectation that is 11.9% lower than those who do value family This indicates a positive relationship between happiness and the importance placed on family, aligning with anticipated outcomes.
A study reveals that individuals who do not prioritize friendship have a happiness index expectation that is 12.1% lower than those who do value friendships This positive correlation between happiness and the importance of friends aligns with anticipated outcomes.
To estimate the regression equation, use White's weighted least squares method:
Std Error of the Estimate
Table 7: Model Summary of auxiliary regression
H1: at least one of the α is different from zero The statistic with computed value is: χ²qs = nR ² = 1478*0,0269 = 39,7582
The calculated value is less than the tabulated value, leading to the acceptance of the null hypothesis Consequently, the results of the White general heteroscedasticity test indicate that there is no presence of heteroscedasticity.
Happiness is a subjective concept, varying from person to person, which has led to extensive research aimed at understanding what truly makes people happy This research is crucial for guiding policymakers in developing strategies that enhance not only economic well-being but also the spiritual and overall happiness of society By offering insights, we aim to contribute to the improvement of individuals' quality of life and elevate collective happiness levels.
To investigate the factors influencing human happiness, we analyzed data from the World Values Survey and employed an economic model to identify key contributors to well-being.
Despite our best efforts, this study has limitations due to the research team's limited experience, which may lead to potential confusion in data presentation We appreciate your understanding regarding these challenges.
In conclusion, given the significance of the topic and the limitations of our research, we recommend a comprehensive study on human happiness in Vietnam This in-depth research should explore the causes and effects of various factors contributing to the happiness of the Vietnamese people Additionally, conducting this study regularly will facilitate updated analyses, making it essential to adopt a refreshed approach tailored to the evolving conditions in Vietnam.
[1] Dayana Baez, Skidmore College, Understanding the Relationship between Unemployment and Happiness: How Healthcare Efficiency Plays a Role in Life Satisfaction, 2017
[2] Social Science, Richard Layard on Happiness Economics, 2020
[3] Esteban Ortiz-Ospina and Max Roser, Happiness and Life Satisfaction, 2017
[4] Diener, E., Oishi, S., & Lucas, R E (2009), Subjective well-being: The science of happiness and life satisfaction, Oxford handbook of positive psychology
[5] The aim is to maximize happiness, not income, The Economics Book: Big Ideas Simply Explained (2012), DK, DK Publishing
[6] Carol Graham (2011) The pursuit of happiness, Brookings Institution Press
[7] Subjective well-being - Wikipedia (2012) Retrieved 15 September 2022 https://en.wikipedia.org/wiki?curid4104355