Abstract
AbstractThe article studies the causal effect of subjective well‐being on the consumption behavior of individuals aged 50 and above using data from the English Longitudinal Study of Aging (ELSA). To establish a causal link between subjective well‐being and six distinct types of consumption (food consumed at home, food consumed outside of home, spending on clothing, leisure consumption, monthly rent, and utility consumption), it exploits the longitudinal dimension of the dataset and instruments for subjective well‐being. The analysis reveals that subjective well‐being positively affects spending on food outside of home and leisure activities, while having no significant effect on the consumption of food consumed at home, clothing, monthly rent, and utilities. These results imply that people with higher levels of subjective well‐being are more engaged in social and leisure activities, such as going out for dinner, which offers important implications for both long‐term, as well as habitual buying behavior.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
