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A Note on the Impact of Economic Regulation on Life Satisfaction

Author

Listed:
  • Bodo Knoll
  • Hans Pitlik

    (WIFO)

  • Martin Rode

Abstract

Are people happier if they experience freedom from regulation, and how do individual attitudes towards liberalisation influence personal life satisfaction? Based on data from European and World Values Surveys and the Economic Freedom of the World project we find evidence for positive effects of low regulation and pro-market attitudes on life satisfaction. Paradoxically, people who are opposed to market oriented policies sometimes benefit most from deregulation.

Suggested Citation

  • Bodo Knoll & Hans Pitlik & Martin Rode, 2012. "A Note on the Impact of Economic Regulation on Life Satisfaction," WIFO Working Papers 441, WIFO.
    • Handle: RePEc:wfo:wpaper:y:2012:i:441
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    File URL: https://www.wifo.ac.at/wwa/pubid/45859
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    References listed on IDEAS

    as
    1. Christian Bjørnskov & Axel Dreher & Justina Fischer, 2008. "Cross-country determinants of life satisfaction: exploring different determinants across groups in society," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 30(1), pages 119-173, January.
    2. Brambor, Thomas & Clark, William Roberts & Golder, Matt, 2006. "Understanding Interaction Models: Improving Empirical Analyses," Political Analysis, Cambridge University Press, vol. 14(1), pages 63-82, January.
    3. Alois Stutzer & Bruno S. Frey, 2008. "Stress that Doesn't Pay: The Commuting Paradox," Scandinavian Journal of Economics, Wiley Blackwell, vol. 110(2), pages 339-366, June.
    4. Dreher, Axel & Öhler, Hannes, 2011. "Does government ideology affect personal happiness? A test," Economics Letters, Elsevier, vol. 111(2), pages 161-165, May.
    5. Martin Rode, 2013. "Do Good Institutions Make Citizens Happy, or Do Happy Citizens Build Better Institutions?," Journal of Happiness Studies, Springer, vol. 14(5), pages 1479-1505, October.
    6. Ovaska, Tomi & Takashima, Ryo, 2006. "Economic policy and the level of self-perceived well-being: An international comparison," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 35(2), pages 308-325, April.
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    Cited by:

    1. Niclas Berggren & Christian Bjørnskov, 2023. "Does legal freedom satisfy?," European Journal of Law and Economics, Springer, vol. 55(1), pages 1-28, February.
    2. Humpert, Stephan, 2013. "A Note on Satisfaction with Life, Government and Job: The Case of Eastern Europe," MPRA Paper 45449, University Library of Munich, Germany.
    3. Bodo Knoll & Hans Pitlik, 2014. "Who Benefits from Big Government? A Life Satisfaction Approach. WWWforEurope Policy Paper No. 14," WIFO Studies, WIFO, number 47495.
    4. Hadsell, Lester & Jones, Adam T, 2020. "The company you keep: Satisfaction with life, economic freedom, and preference-policy mismatch," Journal of Comparative Economics, Elsevier, vol. 48(3), pages 642-657.
    5. Arye L. Hillman & Niklas Potrafke, 2016. "Economic Freedom and Religion: An Empirical Investigation," CESifo Working Paper Series 6017, CESifo.
    6. Maite D. Laméris & Richard Jong-A-Pin & Rasmus Wiese, 2018. "An Experimental Test of the Validity of Survey-Measured Political Ideology," CESifo Working Paper Series 7139, CESifo.
    7. Megan V. Teague & Virgil Henry Storr & Rosemarie Fike, 2020. "Economic freedom and materialism: an empirical analysis," Constitutional Political Economy, Springer, vol. 31(1), pages 1-44, March.
    8. Johan Graafland, 2020. "When Does Economic Freedom Promote Well Being? On the Moderating Role of Long-Term Orientation," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 149(1), pages 127-153, May.

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    Keywords

    attitudes; government; ideology; life satisfaction; regulation;
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