Abstract
This paper purports to examine the determinants of subjective well-being (life satisfaction) of retired professors in Tehran's selected universities. In this respect, a questionnaire-based study was done among 350 retired academicians in the public Universities of Tehran. Data were collected using Diener et al.’s Life satisfaction scale. Moreover, we use an ordered logit model to take the ordinal nature of the Life satisfaction scale into account. Diener's proxy shows a relatively high level of Life satisfaction among retired professors, whose mean value is 18.79 out of 25. The estimated results show a negative and significant effect of age, retirement age, and retirement duration on the life satisfaction of academicians. On the other hand, those who were currently married, coming from higher-ranked universities, receiving pension benefits, and actively engaged in post-retirement professional activities were more satisfied with life. In addition, the results indicate that the ones who were forced to retire have a lower level of life satisfaction than those who had an arbitrary retirement.
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