Open Access

  

Original research article

Exploring Life Satisfaction: Evaluating the Sufficiency of Economic and Objective Indicators through Empirical Analysis

Author(s):

Azhar Majeed1 and Ayesha Asad2*

  1. Shifa Tameer-e-Millat University, Islamabad, Pakistan.
  2. Fatima Jinnah Women University, Pakistan.
Received: July 20, 2024

  

  

  

Accepted: September 11, 2024

  

Published: November 5, 2024

Abstract

Human values and experiences have generally been ignored in determining the life satisfaction of citizens. This paper empirically tests the relationship between the dependent variable of life satisfaction with explanatory variables like income, health, educational level, religiosity, and democratic values. The data is taken from the World Value Survey with a sufficiently large sample size. The analyses of descriptive statistics and Spearman’s rank-order correlation is followed by the main analysis within the framework of the Ordered Logistic Regression model. The results reassert the importance of values and human experiences in policymaking.

Keywords: Life Satisfaction, Human Values, Policy Making, World Value Survey, Ordered Logistic Regression, Human Experiences

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