For other studies of subjective factors and well-being see Baumeister et al. The well-known study of Winkelmann and Winkelmann ( 1998), for example, demonstrated that much of the loss of life satisfaction from entering unemployment was non-pecuniary, and some of these non-pecuniary factors were subjective (for example self-esteem, feelings of loneliness and a lack of purpose).
Investigations considering subjective factors are rarer, although, as studies from economics and more frequently from the wider social sciences in general show, these factors are also very important for individual well-being and life satisfaction. Within the economics discipline, many investigations into well-being focus on objective factors (income, labour force status, marital status, education, health) and, in many cases, have convincingly demonstrated associations and causal connections. These effects are attenuated though do remain substantial after controlling for the following: individual fixed effects statistically matching on observable variables between optimistic and pessimistic individuals and addressing the potential endogeneity of optimism and pessimism to life satisfaction.
The effect size is greater for individuals who report being pessimistic than that for well-understood negative events like unemployment. Furthermore, including individuals’ optimism and pessimism about the future substantially increases the explanatory power of standard life satisfaction models. In addition, the investigation demonstrates that the association holds when some possibly anticipated events (like, for example, divorce and unemployment) are controlled for. The study confirms with modern econometric techniques the previously found substantial association with an individual’s thoughts about the future, whether they are optimistic or pessimistic about it, with life satisfaction. The presence of significance interaction between specialization and grade point average on a feature of pessimism.This is an empirical investigation into life satisfaction, using nationally representative German panel data. The presence of significance interaction between sex and grade point average on a feature of pessimism. The differences are statistically significant at the level of significance (0.05) between the academic level (first, second, third, and fourth) in the trait of optimism for the benefit of students who are in the level of the first, second, and third year. Statistically significant differences between males and females in the prevalence of trait optimism in favor of male students. Different ratios of the three levels is widespread pessimism (high, moderate, and low) according to the variables sex, area of study, level of study, and grade point average. Differ in the prevalence of optimism in three levels (high, moderate, and low) according to the variables sex, area of study, level of study, and grade point average. Statistically significant negative correlation relationship between pessimism and extraversion, and between pessimism and introversion. Statistically significant positive correlation relationship between pessimism emotional equilibrium, and the pessimism emotion. Results of study revealed that: A positive correlation relationship and statistically significant between optimism and introversion. The study sample consisted of (534) students among undergraduate students enrolled in the Hashemite University during the summer semester 2010/2011. This study aimed to examine the correlation between optimism - pessimism and personality traits (extraversion, introversion, emotional stability and neuroticism), also aimed to identify the prevalence of optimism and pessimism in the study sample according to the variable sex, academic specialization, level of study, and grade point average.
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