Subjective Economic Well-being Research Articles

PSYCHOLOGICAL TIME AND ECONOMIC ATTITUDES: TESTING THE THEORETICAL MODEL

Despite the evidence of the relationship between types of the economic behaviors and certain components of psychological time, there is no holistic model, explaining the relationship between them. The purpose of this study is to develop and verify such a model. According to the theoretical model, psychological time can act as an internal factor, which, when interacting with other internal and external variables, serves as a predictor of changes in economic attitudes. Model verifi cation was carried out on the sample of the residents of the south-western part of the Russian Federation (N = 1 356, MAge 25.27, 41% of male). We use the following methods: Life Satisfaction Scale, PVQ-RR, Subjective Income Level Scale, Economic Attitudes Questionnaire, Inventory of Polychronic Values, Attitudes towards Time, Zimbardo’s Time Perspective Inventory, Inventory of Time Value as an Economic Resource by Usunier. The empirical model confi rms the theoretical one. The escapist orientation (the combination of orientation to the past negative, present fatalistic and present hedonistic) contributes to the reduction of the level of subjective economic well-being. On the contrary, the harmonious orientation (the combination of the future orientation, past positive and present hedonistic) increases the level of subjective economic well-being indirectly — through the shaping of the future confi dence based on fi nancial literacy. The signifi cant contribution of life values and the less signifi cant contribution of gender and age in shaping the time orientations were found. The study contributes to the understanding of the signifi cance of the perception and experience of time in the economic life for the formation of one’s well-being.

Subjective socio-psychological well-being of a person as a factor in the choice of food products

Introduction. Food preferences of people are largely determined by genetic predisposition, However, from the moment of birth, they tend to change depending on the influence of the social environment, personal experience and significant personalities.
 The purpose of the work is to reveal the influence of subjective socio-psychological well-being on the formation of food preferences through an assessment of its relationship with external factors determining the choice of a particular product.
 Materials and methods. The following methods were used in the study: the «Eating Behaviour Assessment Scale» method, the Psychological Well-Being Scale” method, “Subjective Economic Well-Being Questionnaire”, methodology for diagnosing the level of self-esteem, authors’ questionnaire. The statistical software SPSS 22.0 was used to process the data. The study surveyed 22 to 60 years 250 peoples. Consent to participate in the study was obtained from each subject. 
 Results. The main components of the concept of “subjective socio-psychological well-being of consumers” are determined, their interrelations with various factors of external marketing influences on buyers are revealed. The subjective factors mediating eating behaviour, reflected in the concept under consideration, largely determine the effectiveness of the influence on the individual of various external marketing influences when buying food.
 Limitations. The sample of the study, despite the rather large volume, was not representative enough and included only residents of Moscow and the Moscow region, which does not give the right to use the results obtained outside the region with confidence.
 Conclusion. The higher the level of subjective socio-psychological well-being, the more expensive goods people prefer. At a low level, the greatest attention when choosing is given to information about the quality of the product on the label. The effect of advertising and brand on food choice in both high and low individuals is extremely small.

Economic performance and good governance: examining the role of economic well-being in local governance evaluation in China

Citizens’ satisfaction with governance is a critical political issue in China. How do citizens evaluate the effort to improve governance quality by the Chinese government? Are citizens satisfied with the governance at the local level? Does citizens’ economic well-being affect their evaluation of local governance, and if so, how? Drawing data from the Chinese Household Income Project (CHIP) 2018 survey, this study attempts to provide some insights to these questions by investigating whether citizens’ economic well-being shapes their evaluations of local governance. We find that respondents with a stronger sense of subjective economic well-being are more likely to be satisfied with local governance. However, objective economic well-being has a slightly negative impact on local governance satisfaction. Chinese citizens generally express a high level of satisfaction with local governance. Therefore, perceived economic well-being influences local government favorability more than the representation of economic well-being in material wealth. The findings point to a complex relationship between economic well-being and evaluation of governance quality.

SUBJECTIVE ECONOMIC WELL-BEING OF BANK EMOK CUSTOMERS' FAMILIES: AN ANALYSIS OF DEBT BEHAVIOR, LIFESTYLE, ECONOMIC PRESSURE, AND FAMILY FINANCES

The utilization of money is not optimal, making the family's financial condition inefficient, which is why the family decides to get into debt at the Bank Emok. This study aims to analyze the influence of the family's debt behavior, lifestyle, economic pressure, and financial conditions (literacy and management) on the subjective economic well-being of Bank Emok customers in Bogor City. The research used a cross-sectional study design involving 150 families of Bank Emok customers selected by simple random sampling. The research instrument has adequate reliability and validity. The results of the analysis show that there are Bank Emok customers who are not categorized as poor. Many client families do not fulfill 12 years of primary education. Loans range from 2-16 million, with an average weekly installment of 138 thousand. As many as 26,7 percent of families fall into the category of high economic pressure, which is characterized by the difficulty of families in fulfilling food, education, and life skills. The results of the regression test show that the subjective economic welfare of families is positively influenced by lifestyle, financial literacy, financial management, number of dependents, length of wife's education, and length of loan. The analyzed model contributed 27,2 percent to the subjective economic well-being of families. Families are advised to start making financial plans and implement saving habits to be used in emergencies to improve the subjective economic well-being of the family.

Development Policies and Subjective Economic Wellbeing: Evidence From India

In recent years, there has been a significant expansion in India’s development policy discourse accompanied by rights-based approach, grassroots transformation and socio-economic change. Consequently, impact evaluation has become central to development interventions. However, the evaluation of subjective measures within development policy discourse remains under-studied. The purpose of this article is to examine the impact of development policies on subjective economic wellbeing (SEWB) in India. Utilising household data from India human development survey and applying ordered probit regression, we test medium-term impact of development policies on SEWB. The findings show that while development policy does have significant impact in driving SEWB, interaction among development policies also curates interesting perspectives. Moreover, evidence suggests that relative social and economic considerations are significant in driving SEWB. The article attempts to combine insights from the development discourse and an empirical approach to go beyond a critique and draw emphasis on SEWB in an emerging economy context. JEL Codes: O11, O53, R28

Subjective economic inequality is associated with lower well-being through more upward comparison and lower trust.

Individuals often misconstrue the actual degree of economic inequality, which might account for the ambiguity in the literature about the role that inequality plays in well-being. Instead of focusing on objective inequality, we propose a subjective inequality approach by investigating the long-term association between subjective economic inequality and well-being (N = 613). We found that subjective inequality predicted lower life satisfaction and higher depression one year later, which were accounted for by more upward socioeconomic comparison and lower trust. Furthermore, the negative association between subjective inequality and well-being remained constant, regardless of individuals' objective socioeconomic status (SES), subjective SES, and mindset of SES. The long-term association between subjective inequality and well-being remained robust after controlling for prior levels of well-being and multiple covariates. Our findings revealed that subjective inequality is detrimental to well-being and opens a new window into psychological research on economic inequality.

О некоторых факторах субъективного экономического благополучия

Introduction. One of the main motivations of the human community is the desire for well-being, and its subjective feeling is the basis of a full-fledged life of the individual, which is why the study of subjective economic well-being (SWB) is an urgent task of modern psychology. The term “SWB” first appeared thanks to the works of B. Strumpel and A. Campbell. The concept was defined as the result of a social comparison of the actual status of a person with his needs and perception of his own position. The purpose of this work is to analyze the influence of certain factors on the personal subjective economic well-being: income, education, health. The article provides an analytical review of the works of foreign and domestic authors devoted to the discussion of three significant factors of subjective economic well-being: income, education, health. Theoretical analysis. Comparative analysis allows us to determine the impact of income, education and health on SWB. Empirical analysis. The analysis helps to identify the positive and significant impact of the three selected factors on the SWB. Conclusion. The research results have shown that the selected three factors of SWB in developed countries are the foundation of people’s well-being. But the influence of these same factors in developing countries may be significantly lower and further research is required to confirm this fact.

Психологическое благополучие специалистов органов опеки и попечительства

<p><span lang="EN-US">The article is prepared on the basis of the results of the final qualifying work and is devoted to the study of the specifics of the psychological well-being of specialists of the</span><span lang="EN-US"> guardianship and guardianship authorities in relation to minors (OOIP), with different professional experience. The indicators of psychological well-being of specialists with the experience of removing a child from parents and those without such experience are compared. The results of a study of two social groups — specialists in the age groups up to 35 years and above 36 years are presented. In total, 105 specialists of the OIP participated in the study. The study was conducted using the following tools: author’s socio-demographic questionnaire, “Scale of psychological well-being” by K. Riff (in Russian adaptation), “Diagnosis of professional burnout” (in Russian adaptation), questionnaire of subjective economic well-being by V.A. Khashchenko. The interrelation of indicators of psychological well-being of OOIP specialists with their emotional burnout and subjective economic well-being is revealed. There are significant differences in the level of psychological well-being in the age groups: in the age group up to 36 years the level is lower compared to the norm, in the group over 36 years — above the norm. Emotional exhaustion and depersonalization of guardianship specialists who have experience in taking a child away from parents is significantly higher than that of specialists who do not have such experience. In the group over 36 years of age, specialists with selection experience have higher rates of reduction of personal achievements.</span></p>

Этнопсихологические особенности экономического самоопределения монгольских предпринимателей

The article presents investigations of the Irkutsk research school of economic ethnopsychology. Based on a theoretical and empirical analysis the author identified key factors of economic self-determination of small business individuals. The author conducted a cross-cultural study on the sampling of 161 people, 72 of whom were Mongol entrepreneurs doing their business in Ulan-Bator, and 89 of whom were Russian small business individuals from Irkutsk. The article presents the results of the empirical study, which has found that the most significant factors in the organization of economic self-determination are economic subjectivity, subjective economic well-being, entrepreneurship appeal, competitiveness, economic risk, value for money, scenarios of economic behavior, time-dependent prospects.

Music and Spirituality in Africa: Gospel Music, Spirituality, and Everyday Meaning-Making in Nigeria

This article explores gospel music as one of the ways people negotiate spirituality and everyday meaning-making in Lagos. Beyond sonic spheres and analysis, this article provides insight into ways in which people ‘perform’ spirituality and negotiate wellbeing amidst Nigeria’s social, political, and economic uncertainty through a focus on the ‘celebrity’ character and self-fashioning of one of Nigeria’s gospel music stars, Tope Alabi. Gospel music and its infrastructures of modernity constitute one of the ways Nigerians negotiate wellbeing and respond to global economic tensions ‘from below’. We explore the nexus between gospel music and how the ‘spirituality’ it facilitates shapes people’s subjective ideas of social and economic wellbeing. We ask: what is the link between gospel music, spirituality, and people’s everyday meaning-making and self-making? Using Harry Garuba’s animist unconscious’, we explore ways in which the social life and superstar image of Nigerian ‘celebrity’ gospel musicians constitute sites where people negotiate spirituality and everyday subjective happiness, and social and economic wellbeing. We argue that spirituality, ‘being spiritual’ or the understanding thereof does not only manifest at the intersections of sound and emotion. Instead, we suggest that people’s subjective idea of spirituality or ‘being spiritual’ in a place such as Lagos can also be understood through a focus on the social life and the self-fashioning of gospel musicians. The self-fashioning and superstar image of gospel musicians become a medium through which the everyday idea of spirituality and meaning-making is negotiated, staged, and performed, and a channel through which these processes of meaning-making can be explored and understood.

Predictors and Effects of the Economic Consciousness of the Indigenous Peoples of the North

Globalization and its consequences have had a noticeable impact on the lives of the indigenous peoples of the North, including their economic behavior. Due to geographical and social isolation, studies of the economic consciousness of the Northern peoples are limited. This article seeks to fill this gap through the study of predictors and effects of the economic consciousness of the Northern peoples. Structural equation modeling revealed various types of economic consciousness of the Northern peoples, as well as their predictors, both internal (attitude to time, values) and external (culture, gender, age) contribute differently to the formation of subjective economic well-being. The most significant and positive contribution is made by a balanced strategy of economic behavior, which assumes an optimal ratio of savings, investments and activity, reliance on financial knowledge in making economic decisions, a high level of self-regulation and self-control in the economic sphere. The increased importance of material values, the willingness to receive them at the expense of health and vocation, combined with distrust of financial institutions and actors, on the contrary, reduces the level of subjective economic well-being. The developed model offers directions for the transformation of the economic behavior of the indigenous peoples of the North.

Determinants of Subjective Economic Well-being and Subjective Health: Bivariate Ordered Probit Approach

Bu çalışmanın amacı Türkiye’deki hanehalklarının öznel iktisadi iyi oluş ile öznel sağlık algılarının belirleyicilerini, bu iki öznel bilgi arasındaki etkileşim dikkate alarak incelemektir. Bu çerçevede, Türkiye İstatistik Kurumu (TÜİK) tarafından yayımlanan 2017 yılı Gelir ve Yaşam Koşulları Araştırması (GYKA) mikro veri setinden yararlanılmıştır. Bu veri setindeki, “hanenin toplam geliri ile gerekli harcamaları yapabilme durumu” sorusuna verilen yanıtlar “öznel iktisadi iyi oluş” ve “hanehalkı reisinin sağlık durumu” sorusuna verilen yanıtlar ise “öznel sağlık” olarak tanımlanmıştır ve bu değişkenler çalışmanın bağımlı değişkenlerini oluşturmaktadır. Çalışmada, hanehalkı reisinin iyi-oluşunu etkileyen bağımsız değişkenlerin incelenmesinde, bağımlı değişkenin sıralı yapısını ve iki bağımlı değişken arasındaki etkileşimi dikkate alan iki değişkenli sıralı probit model kullanılmıştır. Çalışmadan elde edilen bulgulara göre hanehalkı reisinin eğitim düzeyi arttıkça, hanehalkı reisinin öznel sağlık algısı daha iyi olmaktadır. Bunun yanında hanehalkı reisinin işsiz veya boşanmış olması, öznel iktisadi iyi oluşunu ise olumsuz etkilemektedir. Hanehalkı geliri ise hem hanehalkı reisinin öznel iktisadi iyi oluşunu hem de öznel sağlığını etkileyen en önemli değişkendir. Sonuç olarak hanehalkı reisinin öznel iktisadi iyi oluşu ve öznel sağlığının belirleyicileri farklılık göstermekle birlikte iki öznel bilgi arasında ilişki söz konusudur.

The Subjective Cost of Young Children: A European Comparison

Understanding child-related costs is crucial given their impact on fertility and labour supply decisions. We explore the subjective cost of young children in Europe by analysing the effect of child births on parents’ self-reported ability to make ends meet, and link it to changes in objective economic well-being such as income, benefits, and employment. The study is based on EU-SILC longitudinal data for 30 European countries from 2004 to 2019, enabling comparisons between country groups of different welfare regimes. Results show that newborns decrease subjective economic well-being in all regions, yet with economies of scale for the number of children. Mediation analyses reveal that the substantial labour income losses of mothers (indirect costs) explain only a small part of subjective child costs. In the first year after birth, these losses are mostly compensated for via public transfers or increased labour income of fathers, except in regions where women take extensive parental leave. This suggests that the initial drop in subjective economic well-being after childbirth is caused by increased expenses due to the birth of a child (direct costs) and other drivers such as stress that are reflected in the self-reported indicator.

The Economic and Financial context of Well-being: An Integrated Explanation of the Social Capital

The concept of social capital goes back to Bourdieu’s definition, which placed the focus on the existence of ‘‘network(s) of more or less institutionalized relationships … which provides each of its members with the backing of collectively-owned capital’’.
 The purpose of this paper is to investigate the impact of social capital on the link between financial and economic wellbeing and life satisfaction among employees within institutions. The main aim is to analyze the relationship between the various dimensions of social capital and subjective financial and economic wellbeing. this article discusses: What is social capital and how does it impact on the financial and economic well-being? For this extant literature related to the topic from different databases, websites and other available sources were collected. To answer the research questions, a literature review was conducted. The articles were selected from evidence-based scientific databases such as Emerald, Sage Premier, ScienceDirect, Springer Open, and Google Scholar. we searched relevant literature using specific keywords, e.g., “Social Capital,” “Subjective Well-Being,” “Life Satisfaction,”. Twenty-eight scholarly articles were selected by using exclusion and inclusion criteria and screening the relevant articles.

Психологические стратегии и типы финансового поведения студентов разных российских университетов

The article presents the results of empirical research aimed at a comparative analysis of financial behavior strategies and economic aspirations of Russian students (N = 80, age 19–20 years) studying at metropolitan and regional universities (Saratov and Moscow). As methods of research were used survey and testing (questionnaire of subjective economic well-being V. A. Khashchenko; test of dispositional optimism in modification of T. O. Gordeeva, O. A. Sychev, E. N. Osin; questionnaire of self-organization of activity in E. Yu. Mandrikova adaptation; Schwarz portrait questionnaire). In two groups of students both similarities (determinants of financial behavior, economically cautious strategy of budget management, avoidance of financial risk, small savings practices, financial infantilism, lack of financial awareness, attractiveness of some forms of investment, optimism expression, similarity of profiles of value orientations) and differences (personal budget structuring, economic aspirations and dream, readiness to take financial risk) were found. It is asserted that the identified similarities are determined by the respondents’ affiliation with a certain social group, while the differences are caused by the subcultural features of the territory of study and residence. Based on the assessment of subjective economic well-being and life prospects, configuration of value orientations, specifics of strategic goal-setting, the typology of financial behavior of students studying at different universities is proposed. The applied aspect of the problem under study consists in the possibility of using the results in the development of programs of socio-psychological adaptation of students to the conditions of learning and living; educational programs aimed at eliminating economic illiteracy of students; programs of psychological support and student counseling.

Суб’єктивне соціальне благополуччя співробітників з різним соціально-економічним статусом

Thepurposeof the research is to specify differences in the subjective social well-being of an organization’s employees with different socioeconomic statuses. The following methodshave been used to conduct the empirical research (n=38): theoretical analysis and generalization of scholarly views of the problem; empirical methods: “Questionnaire of Subjective Social Well-Being” (T.V. Danylchenko); “Questionnaire of Subjective Economic Well-Being” (V.O. Khashchenko); the methods of statistical analysis: correlation analysis; F-test. Results.The authors have established statistically significant correlations between the criteria of subjective social well-being and subjective economic well-being, namely, between the scales “Social visibil-ity”, “Social remoteness” and the indices of economic optimism, economic anxiety, and financial deprivation. It has been confirmed the statistical interdependence between the scales “Emotional acceptance” and “Family well-being index”. The research has determined differences between employees’ groups, which were divided according to socioeconomic status (managers and “performers”), on the following scales: “Social visibility”, “Positive social perceptions”, and “Economic optimism index”. Conclusions.The employees with higher socioeconomic status recognize their influence, the capability to settle problems, the availability of social ties, financial, economic, material, and social resources due to which they are confident when coping with stressful situations, have a positive economic expectation, a high level of efficient social functioning. The employees with low socioeconomic status are mainly characterized by unsatisfactory emotional and social relations, a failure to actively influence their social environment; they feel economic anxiety about their finances and the future.Keywords: social status, employees of organization, economic well-being, subjective economic well-being, mental well-being.

Analysis of the Subjective Economic Welfare and Well-Being of Pyrethrum Farmers in Makete District; Tanzania

Analysis of the Subjective Economic Welfare and Well-Being of Pyrethrum Farmers in Makete District; Tanzania

From social netizens to data citizens: Variations of GDPR awareness in 28 European countries

We study variability in General Data Protection Regulation (GDPR) awareness in relation to digital experience in the 28 European countries of EU27-UK, through secondary analysis of the Eurobarometer 91.2 survey conducted in March 2019 (N = 27,524). Education, occupation, and age are the strongest sociodemographic predictors of GDPR awareness, with little influence of gender, subjective economic well-being, or locality size. Digital experience is significantly and positively correlated with GDPR awareness in a linear model, but this relationship proves to be more complex when we examine it through a typological analysis. Using an exploratory k-means cluster analysis we identify four clusters of digital citizenship, across both dimensions of digital experience and GDPR awareness: the off-line citizens (22%), the social netizens (32%), the web citizens (17%), and the data citizens (29%). The off-line citizens rank lowest in internet use and GDPR awareness; the web citizens rank at about average values, while the data citizens rank highest in both digital experience and GDPR knowledge and use. The fourth identified cluster, the social netizens, have a discordant profile, with remarkably high social network use, below average online shopping experiences, and low GDPR awareness. Digitalization in human capital and general internet use is a strong country-level correlate of the national frequency of the data citizen type. Our results confirm previous studies of the low privacy awareness and skills associated with intense social media consumption, but we find that young generations are evenly divided between the rather carefree social netizens and the strongly invested data citizens. In order to achieve the full potential of the GDPR in changing surveillance practices while fostering consumer trust and responsible use of Big Data, policymakers should more effectively engage the digitally connected social netizens in the public debate over data use and protection. Moreover, they should enable all types of digital citizens to exercise their GDPR rights and to support the creation of value from data, while defending the right to protection of personal data.

Experiencing and overcoming financial stress in married couples: A study in COVID 19 pandemic era

The article analyzes interaction of spouses in overcoming financial stress. An online survey of 136 married couples was conducted during the lockdown caused by the spread of COVID-19 accompanied by family income losses. Frequency and severity of discussions on financial topics; level of subjective economic well-being, activity of coping strategies, family cohesion and adaptation were measured. Results showed that the discussion of financial topics is a stressor for married couples, accompanied by contradictions and conflicts, but ultimately helps to improve quality of relations between spouses, and also increases the adaptability of the family system in a situation of socio-economic crisis. Subjects of conflicts were defined. Influence of gender roles on financial consciousness and behavior was shown. Wives are more likely to initiate discussions on economic topics and more inclined to economic anxiety, while husbands showed economic optimism. The severity of financial stress correlates with assessments of family cohesion. Correlations between financial well-being and coping behavior of husbands and wives represent the family as an entire open system. Partners are interdependent in overcoming financial stress. Collective family coping is determined by individual reactions of spouses. The efforts of partners can be congruent and complementary.

Features of professional well-being of representatives of different professional groups

The article is devoted to a review of the results of the study of the features of professional well-being among representatives of various professions. The following main indicators of the study were used: indicators of professional well-being, subjective economic well-being, occupational psychological well-being, professional demand for personality, professional motivation, work engagement, life satisfaction, subjective social well-being, meaningfulness of life, psychological capital, job satisfaction, psychological climate. The study involved 403 representatives of various professional groups: economists, engineers, police inspectors, cook-confectioners, managers, unskilled manual workers, medical representatives, salesmen, police investigators. The hierarchy of professional groups by mean indicators of professional well-being was revealed. The strength of the relationship between the general indicators of the study and professional well-being in each professional group is determined. Possible reasons for differences between groups for each indicator were explained. The predictors of professional well-being for different professional groups were identified. The results of the study confirmed that the structure of predictors of professional well-being can differ significantly for representatives of different professional groups. The differences between the groups are related to the hierarchy of predictors of professional well-being within a single semantic field. In addition, it was found that the scales of general indicators can contribute to the differences between professional groups, which requires additional study of the features of professional well-being, at the level of the items behind each general indicator.