Income Expectations in Sustainability of Subjective Perception of Households’ Wellbeing

Abstract

The knowledge of the sources of the sustainability of the subjective perception of households’ material wellbeing is essential in designing a country’s effective socio-economic policy to increase citizens’ satisfaction. The empirical goal of the study is to check the effectiveness and efficiency of statistical and econometric tools. The cognitive task of the analysis is describing material wellbeing and identifying the sources of satisfaction with life. The methods applied to measure and model emotions of interest include correspondence analysis, hierarchical clustering and panel data models (within estimator variants). The main findings are that Polish households declare a sustainable, increasingly high subjective perception of wellbeing. The author identified possible sources of wellbeing and self-perception sustainability. The main factors constituting the subjective perception of wellbeing are dwelling situation and the possession of durables, along with the absence of drastic differences in the material condition of families.