Jurnal xxyyy, Volume 2x No.

x April 201x, xx - xx

Jurnal xxxyyy
Journal homepage: www. Sss/yyy

Economics and Social Capital: Perceived Happiness in Indonesia

First Authora, Second Authorb, Third Authora,b,b

a
Afiliasi penulis pertama, email
b
Afiliasi penulis kedua, email

INFO ARTIKEL ABSTRACT

Riwayat Artikel: The research objective is to analyze the determinants of happiness
Received in Indonesia. Using cross-section data from the Indonesia Family
Revised Life Survey (IFLS) wave 5, 2014, this study takes 7.917
Accepted observations, estimated using the logistic model. The logistic
model was chosen because of the categoric depedent variable and
Keywords:
the normal assumption in error distribution. The result shows that
happiness in Indonesia positively affected by demographic
Kata Kunci: characteristics as age, marital status, and residential area;
Persepsi Kebahagiaan personal life satisfaction as education, job status, income, and
Modal sosial insurance type; and social capital. A high sense of trust in the
Logit
Indonesia environment can increase one's happiness, likewise with a feeling
of security in the environment. The higher the sense of security,
the greater the comfort, so the higher the chance of happiness.
Demographic characteristics inform that elders, married people,
and live in the urban area were happier than others. There is no
difference in the happiness level between man and woman.

ABSTRAK
Tujuan penelitian ini adalah menganalisis penentu persepsi
kebahagiaan di Indonesia. Dengan menggunakan data cross
section Indonesia Family Life Survey (IFLS) wave 5 tahun 2014,
penelitian ini mengambil 7.917 observasi dengan menggunakan
model logistik. Model logistik dipilih karena variabel dependen
bersifat kategorik dan asumsi normal dalam distribusi error.
Hasil penelitian menunjukkan bahwa kebahagiaan di Indonesia
dipengaruhi secara positif oleh karakteristik demografis seperti
usia, status perkawinan, dan wilayah tempat tinggal; kepuasan
hidup personal seperti pendidikan, status pekerjaan, pendapatan
per kapita, dan jenis asuransi; dan modal sosial. Rasa percaya
yang tinggi terhadap lingkungan dapat meningkatkan
kebahagiaan seseorang, demikian pula dengan rasa aman pada
lingkungan tersebut. Semakin tinggi rasa aman, semakin besar
kenyamanannya, sehingga semakin tinggi pula peluang
kebahagiaannya. Karakteristik demografis menginformasikan
2 Ekonomi dan Modal Sosial: Persepsi Kebahagiaan (Nama kedua penulis 1, Nama kedua penulis 2)

bahwa orang yang lebih tua, sudah menikah, dan tinggal di

daerah perkotaan mempunyai peluang untuk lebih bahagia. Tidak
ada perbedaan tingkat peluang kebahagiaan antara laki – laki dan
perempuan di Indonesia.
1. Introduction
Over time, economics has a fascinating evolutionary stage, where economics
has begun to be integrated by other disciplines such as psychology. Happiness is one
of the new developments in economics. In real life, humans face economic problems
that are not only influenced by self-interest but also by emotions, life satisfaction,
altruism, happiness, and others. Frey (2008) says that happiness is one of the most
critical problems in life.
The concept of happiness is an essential thing in human life that has existed
in the 4th century BC, which was debated in psychology. In the 1970s, since GDP
(Gross Domestic Products) was known to have many weaknesses in measuring
welfare in general, the concept of happiness also moved into political science and
economics. The declaration of independence in the United States clearly states, 'The
Pursuit of Happiness' as a right that is eternal in line with life and freedom. On the
other hand, Bhutan was the first country in the world to adopt Gross National
Happiness. The concept of Gross National Happiness was introduced by the
Bhutanese leaders to place Buddhist spiritual principles at the heart of economic life.
The study of happiness associated with economics was first carried out by
Easterlin (1974). The research found a paradox of happiness or income paradox
known as the Easterlin Paradox, which is that an increase in income cannot increase
one's welfare or happiness. Clark et al. (2008) also found the same thing in the
United States. The Easterlin paradox shows that there are other factors besides
income (material) that affect happiness. Generally, research is carried out by
comparing the happiness of people living in affluent countries with people living in
less affluent countries. In an under-prosperous country, having a lot of money means
a person can be happier. However, in more affluent countries where almost everyone
obtains necessities, increasing wealth has little impact on happiness (Seligman,
2005).
Income plays a vital role in welfare in developing countries. When basic
needs have been met, and wealth has increased, the difference in individual welfare
or happiness is strongly influenced by non-material factors such as social relations
(Diener & Seligman, 2004; Kesebir & Diener, 2008). That statement is in line with
Maslow's hierarchy of needs theory that the lowest are basic needs. When income is
higher, individuals will try to fulfill higher needs, namely social needs, self-
confidence, and self-actualization (Sirgy 1986). Non-material factors that play an
Jurnal Ekonomi dan Bisnis, Volume 2x No. x April 201x, xx - xx 3

essential role are those concerning the social dimensions of human social life
satisfaction (Helliwell & Putnam, 2004). More specifically, Bartolini and Bilancini
(2010) argue that the quality and quantity of social relations are important factors
that explain the growth of happiness.
Indonesia currently measures the level of happiness using a survey method
conducted by the Central Statistics Agency (BPS). The results of the BPS publication
on the happiness index show that there is an increase in the happiness of Indonesians
seen from an increase in the index from 65.11 in 2013 to 68.28 in 2014. The
happiness index is a composite index for the level of satisfaction with the following
ten aspects, namely health, education, work, household income, harmony in family,
quality time, social relations, conditions of housing and assets, environmental
conditions, and conditions of security. Happiness is composed of three dimensions,
namely life satisfaction and affective feelings. And the meaning of life (eudaimonia).
Happiness includes complex phenomena of life, and its various determinants are
correlated.
This study examines how demographic factors, personal life satisfaction, and
social capital affect Indonesians' happiness levels. Demographic factors used are age,
gender, marital status, and residence location, whether in urban or rural areas.
Personal life satisfaction are the years of education, per capita income, employment
status, and type of health insurance. Social capital is chosen because trust, security,
and social relations are supporting factors for happiness. Indonesia has a culture of
cooperation and harmony in neighborhood, thereby strengthening people's
environmental trust. Understanding the influence of the social capital of Indonesian
society in perceiving happiness is interesting to research. Otherwise, does social
capital not support happiness related to a sense of trust and a sense of security in
each other's environment. The research question posed is how the influence of
demographic factors, personal life satisfaction, and social capital on happiness in
Indonesia.
This study's results are expected to provide benefits for the development of
happiness studies in Indonesia and the formulation of development policies by the
government. Thus, the policies formulated by the government are the right policies
and prioritize the final goal, namely increasing the happiness of the community.
2. Definition and Theory of Happiness
In psychology, happiness uses subjective well-being, which is a condition of
positive feelings in general. Seligman (2005) explains that happiness is a concept that
refers to positive emotions felt by individuals as well as positive activities (such as
individual involvement in activities that they like). Seligman (2005) describes
4 Ekonomi dan Modal Sosial: Persepsi Kebahagiaan (Nama kedua penulis 1, Nama kedua penulis 2)

individuals who get authentic (real) happiness, namely individuals who have been
able to identify and cultivate or train the primary strengths and use them in everyday
life, both work, relationship, games, and parenting.
In economics, Frey and Stutzer (2002) define happiness as subjective well-
being used as a proxy for utility. Happiness is a subjective concept because each
individual has different benchmarks of happiness. Each individual also has different
factors that can bring him happiness. These factors include money, marital status,
social life, age, health, negative emotions, education, climate, race, gender, and
religion, or level of religiosity (Seligman, 2005). Thus, the definition of happiness is
pleasure and peace of life and inner life, luck, and outwardly in mind.
There are three traditional theories and one modern theory about happiness:
hedonism, desire, objective list, and authentic theory in Seligman (2002) and Huang
(2008). Hedonism theory says that happiness is related to maximizing satisfaction
and minimizing discomfort/disappointment/pain. It can be said to maximize the
experience of positive feelings by an individual. Desire's theory states that happiness
is related to the fulfillment of individual desires. Fulfillment of desires will increase
one's happiness regardless of how small the happiness is generated. According to the
objective list theory, happiness is achieved if the individual can fulfill various desired
goals, such as meeting material needs, freedom, health, education, knowledge, and
friendship. Inauthentic theory, the concept of happiness combines the previous three
traditional theories.
Diener et al. (2004) stated that there are three causes of happiness: a person's
character, adaptation, and social relations. In character, there are two fundamental
characteristics of a person, namely neuroticism and extroversion. The character of
neuroticism tends to be irritable, guilty, and depressed. People with extroversion
characters tend to be easily happy, enthusiastic even when they are alone.
Extroversion is most likely to be happier than neuroticism. The nature of adaptation,
in which individuals can adapt to all conditions. The better the adaptability, the
higher the chance to be happier. Social relations, whereby having many social
networks, trusting social relationships, and romantic relationships, will increase the
chances of a happier life.
Maslow's theory assumes that the needs at the most basic level (bottom) must
be met first before the needs at higher levels. There are five levels of basic needs for
Maslow's theory, namely, physiological needs, need for security, need for belonging
and affection, need for appreciation, and need for self-actualization.
3. Empirical Review
Previous happiness research has been done by Sohn (2010) and Landiyanto
Jurnal Ekonomi dan Bisnis, Volume 2x No. x April 201x, xx - xx 5

(2011). This study emphasizes the importance of material (income) and non-material
factors for happiness in Indonesia. Income plays a vital role in happiness in
developing countries. After that, when basic needs have been met, and wealth has
increased, individual happiness will be influenced by non-material factors such as
social capital (Diener & Seligman, 2004).
The relationship of social capital to happiness can be seen from the belief
in individuals. Helliwell (2007) found empirical evidence that the better social
capital, the higher the self-confidence, which will increase the level of happiness
as well as reduce suicidal ideation. Tokuda and Inoguchi (2008) conducted a
study in Japan with the result that there is a relationship between distrust and
unhappiness among Japanese citizens. This is also supported by Falk & Graeber's
(2020) research, which found that prosocial relationships that are reciprocal are
positively related in the short term but negatively related in the long term unless
altruistic factors are included in it. Sarracino (2012), in his research, uses the
proxies of social capital relations in the form of trust between individuals,
volunteer members in several volunteer organizations, and non-social capital
relations in the form of trust in court, religion, and parliamentary institutions as
well as community services. His research shows that there is a positive correlation
between the various proxies of social capital that are both relational and non-
related to happiness.
4. Methods
4.1 Data
This study uses cross-section IFLS wave V year 2014 data. Indonesia Family
Life Survey (IFLS) is part of a longitudinal survey obtained from a survey of 7,917
individuals in 13 provinces in Indonesia, namely Main Sumatra, West Sumatra,
South Sumatra, Lampung, DKI Jakarta, West Java, Central Java, Yogyakarta, East
Java, Bali, West Nusa Tenggara, South Kalimantan, and South Sulawesi.
4.2 Variables
The measure of the perception of happiness in this study is taken from the
question sw12 book 3A data IFLS 5 2014 "considering the current situation, do you
feel that you are very happy, happy, unhappy or very unhappy?" There are four
alternative answers, namely, very unhappy, unhappy, happy, very happy. Age was
included to see the relationship between the level of perception of happiness based
on age. Gender was included in the model to see the influence of the relationship
between gender and happiness. The area of residence is a dummy variable of
individual residence created by categories based on the area of residence, namely
urban and rural areas. The dummy variable is determined by 1 = living in an urban
6 Ekonomi dan Modal Sosial: Persepsi Kebahagiaan (Nama kedua penulis 1, Nama kedua penulis 2)

area, and 0 = living in a rural area. Marital status is a dummy variable that is
determined by 1 = married; 0 = not yet married.
Education shows the length of education that the individual has taken. In this
study, the employment status was only categorized into 2, namely PNS and Non-
PNS. Per capita income is proxied by spending per capita on food and non-food
items. Consumption of food and non-food in this study will be equalized in the
consumption value of the last year so that it can be added to become the total
expenditure per year for each individual. This type of health insurance is made under
the category of private insurance types, and both (private and government) are also
government insurance only. The dummy variable is determined by 1 = having private
health insurance and both; 0 = having government health insurance only.
Social capital in this research consists of the willingness to help the
villagers/sub-district if needed, being able to leave children with neighbors, being
able to leave their homes with neighbors, the security level of the village/kelurahan,
and the security of the village/kelurahan to walk alone at night represented by
questions tr01, tr04, tr05, tr06, and tr07 are about mutual trust. By adapting
Rahayu's (2016) research, various components of social capital are combined into
one variable using factor analysis.
Before doing the factor analysis, the data obtained from the questionnaire
results need to be changed to interval data by increasing the scale to intervals using
the sequential interval method (Method of Successive Interval / MSI) because the
questionnaire results are ordinal data. In contrast, interval data is needed to carry out
the next process.
Factor analysis in this study is used to select component items to obtain new
variables representing social capital. Yang dilakukan pertama dilakukan saat
menggunakan analisis faktor adalah melihat jumlah faktor yang terbentuk harus
terlebih dahulu memperhatikan nilai eigenvalue. Berdasarkan penelitian dapat dilihat
bahwa nilai eigenvalue adalah varian dari komponen – komponen yang dipilih.
Varians bias diterangkan oleh faktor 1 adalah 0.88421 x 100% = 88.421 %. Oleh
faktor2 sebesar 0.26979 x 100% = 26.979 %. Terdapat tiga nilai eigenvalue yang
negatif yang dikarenakan dimensi ruang pada faktor jauh lebih sedikit. Dengan
demikian, paling tidak ada dua faktor yang mungkin dipakai. Selengkapnya
perhatikan tabel 1.
Sumber: Output Stata 14, Data IFLS5 (data diolah)
Nilai difference menunjukkan perbedaan nilai eigenvalue saat ini dan
eigenvalue selanjutnya. Setelah itu nilai proportion menunjukkan proporsi varians
yang diperhitungkan oleh faktor. Dan kolom cumulative menunjukkan proporsi
Jurnal Ekonomi dan Bisnis, Volume 2x No. x April 201x, xx - xx 7

kumulatif varians yang diperhitungkan oleh faktor.

Setelah kita mengetahui bahwa faktor maksimal yang bisa terbentuk adalah
dua faktor, selanjutnya kita melakukan penentuan masing-masing variabel akan
masuk ke dalam faktor mana, apakah faktor 1 atau 2. Loading factor mewakili
bagaimana masing – masing variabel ditimbang untuk setiap faktor juga korelasi
antara variabel dan faktor. Dan nilai uniqueness menunjukkan proporsi varian umum
dari variabel yang tidak terkait dengan faktor.
Suatu komponen dikatakan memenuhi pengujian validitas konvergen apabila
memiliki loading factor diatas 0.5. Hasil pengujian validitas konvergen disajikan
dalam tabel berikut:
Tabel 4.26 Hasil Loading Factor
Komponen Loading Cut Off Keterangan
Petanyaan Factor
tr01 0.1207 0,500 Tidak Valid
tr04 0.5468 0,500 Valid
tr05 0.5567 0,500 Valid
tr06 0.1425 0,500 Tidak Valid
tr07 0.1732 0,500 Tidak Valid
Sumber: Output Stata 14, Data IFLS5 (data diolah)
Berdasarkan tabel di atas dapat diketahui bahwa hanya komponen tr04 dan
tr05 yang menghasilkan nilai loading factor lebih besar dari 0,5. Dengan demikian
dapat dikatakan komponen tr04 dan tr05 mampu mengukur variabel Modal Sosial
dalam penelitian ini.
4.3 Emprical Model
In the logistic regression model, the dependent variable (dependent variable)
is expressed in the logit function for Y = 1 compared to the logit function for Y = 0.
Gujarati (2003) explains that the use of the logit model is often used in
classification data. In this study, it was divided into categories of perception of
happiness, where a value of 0 means unhappy, and a value of 1 means happy.
Pi
Li=ln ( )
1−Pi
=β 10+ β 11 AGE+ β 12GENDER+ β 13 LOC + β 14 MARSTAT + β 15 EMPLOY + β 16 EDU

………………….1
Description:
Li : perceived happiness
AGE : age
 8 Ekonomi dan Modal Sosial: Persepsi Kebahagiaan (Nama kedua penulis 1, Nama kedua penulis 2)

GENDER : gender
LOC : urban/rural areas
MARSTAT: marital status
EMPLOY : job status
EDUC : years of education
INCOME : Per Capita Income
INSUR : Insurance
SOCIAL : Social capital
All data processing in this logistic regression model was carried out using
STATA 14 software.
5. Results
5.1 Descriptive Analysis
The number of observations in this study was 7,917 individuals. Individual
demographic characteristics are 55.78 percent male, 90.11 percent married, and 65
percent live in urban areas. From the years of education, it is known that 30.01
percent of individuals have elementary school education, 17.92 percent junior high
school, 32.76 percent high school level, and only 19.3 percent have higher education
from diploma to doctoral program. The observations of this study were individuals
aged 15-89 years, with an average of 39 years. Per capita income ranged from Rp
21,014,000 to Rp 425,860,000 per year, with an average of Rp 58,965,080 per year.
Most of the individuals said they were happy with the details of 92.55 percent happy,
and 7.45 percent unhappy.
5.2 Estimation Result
Tabel 1 Elements of Social Capital

Categories
Mean Answers
Indicator 1 2 3 4
F % F % F % F %
tr01 2341 29.57 5524 69.77 42 0.53 10 0.13 1.72 Agree
tr04 516 6.52 4333 54.73 2852 36.02 216 2.73 2.34 Agree
tr05 656 8.29 5565 70.29 1599 20.20 97 1.23 2.15 Agree
tr06 1823 23.03 5174 72.17 339 4.28 41 0.52 1.83 Secure
tr07 762 9.62 5822 73.54 1245 15.73 88 1.11 2.09 Secure
Total 6098 15.61 26418 67.66 6077 15.56 452 1.15 2.03 Well
Source: Output Stata 14, Data IFLS5

Based on the data presented in Table 2, it is known that the best respondent's
Jurnal Ekonomi dan Bisnis, Volume 2x No. x April 201x, xx - xx 9

assessment was in question tr04, namely the indicator "Can entrust children to
neighbors" with an average of 2.34 (agree). The lowest respondent's assessment is in
question tr01, which is the indicator "Helping villagers if needed," with an average
of 1.73 (agree). The average social capital variable is 2.03. It means that the
Indonesian people have good social capital.

Table 1 Logit Estimation Results

Dependent Variable: Coefficient Odds Ratio P-value
Perception of Happiness
Age -.1017173*** .9032849 0.000
Age2 .0007685*** 1.000769 0.001
Gender -.1263538 .881303 0.167
Marital status 1.045108*** 2.843705 0.000
Residence Area .1616442* 1.175442 0.083
Years of Education .0989503*** 1.104011 0.000
Job status .4447738* 1.560137 0.060
Income per capita .0119501*** 1.012022 0.000
Type of Insurance .6667387** 1.947874 0.043
Social Capital .1584066** 1.171642 0.021
-cons 2.773177*** 16.00942 0.000
Description: significance level *** 1%, ** 5%, * 10%
Source: Output Stata 14, Data IFLS5

Table 1 informs the independent variables that have a significant effect on

happiness: age, marital status, area of residence, education, employment status, per
capita income, type of insurance, and social capital. All explanatory variables are
significant except gender. Meanwhile, the area of residence and work status is
significant at the 10 percent significance level (α).
5.3 Discussion
The estimation results show that the determinants of the perception of happiness
in Indonesia are age, marital status, area of residence, education, employment status,
per capita income, type of insurance, and social capital. The years of education
positively influences happiness. The longer a person is in school, the higher the
chance of happiness. In Chen (2012), education expands the opportunity to have a
better job to increase their income. The higher the income per capita, the higher the
chance of happiness. These findings indicate that there is no Easterlin paradox in
Indonesia. These results support the findings in several developing countries where
income is an essential factor in measuring happiness.
Someone who works in the government sector can be happier than someone who
works in the non-government sector. It is an indication that jobs in the government
sector are still an attractive option for Indonesians. Noviani (2007) states that
10 Ekonomi dan Modal Sosial: Persepsi Kebahagiaan (Nama kedua penulis 1, Nama kedua penulis 2)

working in the government sector has guaranteed stability and job security, which are
the main reasons Indonesians choose to work in the government sector. Someone
who has private and government insurance has a higher chance of happiness than
someone who has government insurance alone. Private and government insurance
have advantages and disadvantages so that it can be said that government insurance
is not a competitor to private insurance and vice versa (Fadillah, 2015). A person
who has public and private insurance can be happy because the two insurances can
complement what one insurance does not facilitate.
This study found that social capital influences happiness in Indonesia. Coleman
(1993) says that social networks and trust have a substantial effect on well-being. A
high sense of trust in the environment can increase one's happiness, likewise, with a
feeling of security in the environment. The higher the sense of security, the greater
the comfort, so the higher the chance of happiness. In this study, it was found that, in
general, Indonesians have the confidence to entrust their children to their neighbors.
The lowest individual rating is on the element of willingness to help someone who is
less able to help others if needed. However, this study found that the average social
capital of Indonesians is good.
Demographic factors found that happiness is more significant for people who are
elderly, married, and living in urban areas. Meanwhile, there is no difference in
happiness between men and women. Age and happiness have a relationship like a
letter U. The higher the person's age, the lower the happiness to an absolute
minimum point, after which increasing the age will increase happiness. Munandar
(2001) states that there are changes in psychological life as you age. For example, the
feeling of increasing responsibility for earning a living, building a family, looking for
work, and others. It can affect his happiness. On the other hand, happiness will
increase with increasing age. An older adult has emotional maturity so that he is
more able to adapt and also react appropriately in dealing with life's problems
(Hurlock, 1959).
Married people tend to have the opportunity to be happier. These findings
support several other studies that say that marriage is positively correlated with a
person's perception of happiness. Sohn (2010) states that married people have
interpersonal relationships with each other so that there is emotional support in
dealing with everyday life. From an economic perspective, marriage provides
financial security against unexpected economic situations (Frey & Stutzer, 2006;
Stack & Eshleman, 1998).
6. CONCLUSION
This study found that demographic factors are represented by age, marital
Jurnal Ekonomi dan Bisnis, Volume 2x No. x April 201x, xx - xx 11

status, and area of residence; personal life satisfaction that are represented by years
of education, employment status, per capita income, and type of insurance; and social
capital determines the perception of happiness in Indonesia. This study also found
that in Indonesia, there is no Easterlin paradox. Having public insurance and private
insurance will increase an individual's chances of happiness. The opportunity for
happiness that has the most significant effect on happiness is when a person has a
complete type of insurance. The job status that presents the most significant
opportunity for happiness is working in the government sector. Social capital factors
affect happiness. The higher the trust, the sense of help, and a person's sense of
security will increase one's happiness. Demographic characteristics show that people
who are elderly, married, and live in urban areas have a tendency to be happier.
Meanwhile, this study found no difference in happiness between men and women.
The relationship between happiness and age is indicated by the letter U.
In this study, a sense of willingness to help between neighbors, trust, and
having a sense of security in their environment will increase happiness. However, it
cannot be explained whether social capital increases happiness or someone who has
high social capital is happy.
This study has limitations related to the availability of research data.
Therefore, it is recommended for further research to use a complete variable and a
more extended period to describe its long-term condition.
References

Badan Pusat Statistik. (2017). Indeks Kebahagiaan 2017. CV. Dharmaputra.

Bartolini, S. d. (2010). If not only GDP, what else? Using relational goods to predict
the trends of subjective well-being. International Review of Economics 57
(2), 199-213.
Chen, W. c. (2012). How Education Enhances Happiness: Comparison of Mediating
Factors in Four East Asian Countries. Social Indicators Research 106 (1),
117-31.
Clark, A. d. (2011). Will GDP growth increase happiness in developing countries?
Journal of Economic Literature 46 (1), 95-144.
Clark, A. E., Fleche, S., Layard, R., Powdthavee, N., & Ward, G. (2018). The
Origins of Happiness: The Science of Well-Being over the Life Course.
Princeton University Press.
Clark, E, A., & Oswald, d. A. (1994). Unhappiness and unemployment. The
Economic Journal 104 (424), 648-59.
12 Ekonomi dan Modal Sosial: Persepsi Kebahagiaan (Nama kedua penulis 1, Nama kedua penulis 2)

Clark, E, A., Frijters, P., & Shields, d. M. (2008). Relative income, happiness, and
utility: An explanation for the easterlin paradox and other puzzles. Journal of
Economic Literature 46 (1), 95-144.
Coleman, D., & Iso-Ahola, S. (1993). Leisure and health: The role of social support
and self-determination. Journal of Leisure Research, 25(2), 111-128.
Diener, E. d. (2004). Beyond money: Toward an economy of well-being.
Psychological Science in the Public Interest 5 (1), 1-31.
Diener, E. E. (1999). Subjective well-being: Three decades of progress.
Psychological Bulletin 125 (2), 276-302.
Dumairy. (1999). Matematika terapan untuk bisnis dan ekonomi. Yogyakarta: BPFE.
Easterlin, R. A. (1974). Does economic growth improve the human lot? In nations
and households in economic growth: Essays in honor of moses abramovitz.
Academic Press, 89-125.
Fadillah, A. (2015). Pengembangan Strategi Asuransi Kesehatan Swasta di
Indonesia. Jurnal FKM UI.
Falk, A., & Graeber, T. (2020). Delayed negative effects of prosocial spending on
happiness. Proceedings of the National Academy of Science of the United
States of America, 6463-6468.
Forgeard, M. J., Jayawickreme, E., Kern, M. L., & Seligman, d. M. (2011). Doing
the right thing: Measuring wellbeing for public policy. International Journal
of Wellbeing, 1(1), 79-106.
Frey, B. S., & Stutzer, d. A. (2000). Happiness, economy and institutions. The
Economic Journal 110 (466), 918-38.
Gujarati, D. (2003). Ekonometri Dasar. Jakarta: Erlangga.
Helliwell, J. F. (2004). The social context of well-being. Philosophical Transactions
of the Royal Society B: Biological Sciences, 1435–46.
Helliwell, J. F. (2006). Well-being, social capital and public policy: What’s new?
The Economic Journal 116 (510), 34-45.
Helliwell, J. F. (2007). Well-Being and Social Capital: Does Suicide Pose a Puzzle?
Social Indicators Research 81 (3), 455–96.
Landiyanto, Agustino, E., Ling, J., Puspitasari, M., & Irianti, d. S. (2011). Wealth
and happiness : Empirical evidence from Indonesia. Chulalongkron Journal
of Economics 23, 1-17.
Munandar, A. (2001). Psikologi Industri dan Organisasi. Jakarta: Universitas
Indonesia.
Noviani, N. L. (2007). MOTIVASI MENJADI PEGAWAI NEGERI SIPIL (PNS)
PADA WNI KETURUNAN INDIA (Studi Kualitatif pada Komunitas Koja di
Kota Semarang). Semarang: Universitas Diponegoro.
Jurnal Ekonomi dan Bisnis, Volume 2x No. x April 201x, xx - xx 13

Rahayu, T. P. (2016). Determinan Kebahagiaan di indonesia. Jurnal Ekonomi dan

Bisnis Vol 19 No. 1.
Sarracino, F. (2012). Money, sociability and happiness: Are developed countries
doomed to social erosion and unhappiness?: Time-series analysis of social
capital and subjective well-being in Western Europe, Australia, Canada and
Japan. Social Indicators Research 109 (2), 135-88.
Seligman, M. (2005). Orientations to happiness and life satisfaction: the full life
versus the empty life. Journal of Happiness Studies 6, 25-41.
Sirgy, M. J. (1986). A quality‐of‐life theory derived from maslow’s developmental
perspective. American Journal of Economics and Sociology 45 (3), 329-42.
Sohn, K. (2010). Considering happiness for economic development: determinants of
happiness in Indonesia. KIEP Research Paper No. Working Papers-10-09 10
(9), 1-61.
Stutzer, A. d. (2010). Recent advances in the economics of individual subjective
well-being. Social Research: An International Quarterly 77 (4850), 679-714.
Tokuda, Y. d. (2008). Interpersonal mistrust and unhappiness among Japanese
people. Social Indicators Research 89 (2), 349–60.
Veenhoven, R. (1988). The Utility of Happiness. Social Indicators Research 20(4),
333-354.
14 Ekonomi dan Modal Sosial: Persepsi Kebahagiaan (Nama kedua penulis 1, Nama kedua penulis 2)

Appendix
Logistic Regression Significance Test Results

Iteration 0: log likelihood = -2099.4688

Iteration 1: log likelihood = -1951.7073
Iteration 2: log likelihood = -1904.334
Iteration 3: log likelihood = -1903.2898
Iteration 4: log likelihood = -1903.2888
Iteration 5: log likelihood = -1903.2888

Logistic regression Number of obs = 7,917

LR chi2(9) = 392.36
Prob > chi2 = 0.0000
Log likelihood = -1903.2888 Pseudo R2 = 0.0934

happiness Coef. Std. Err. z P>|z| [95% Conf. Interval]

age -.0317607 .0036594 -8.68 0.000 -.0389331 -.0245884

gender -.1098298 .0910904 -1.21 0.228 -.2883636 .0687041
maritalstatus .9450191 .1165746 8.11 0.000 .7165371 1.173501
location .1547887 .0931097 1.66 0.096 -.0277029 .3372803
education .1022049 .016774 6.09 0.000 .0693284 .1350814
Pengeluaran_jutaan .0115594 .0022112 5.23 0.000 .0072255 .0158933
jobstatus .3879574 .2352505 1.65 0.099 -.0731252 .84904
asuransi .6662113 .3292345 2.02 0.043 .0209236 1.311499
factor1 .1527289 .068294 2.24 0.025 .0188752 .2865827
_cons 1.372891 .261626 5.25 0.000 .8601134 1.885668

Logistic Regression Odds Ratio Results

Iteration 0: log likelihood = -2099.4688

Iteration 1: log likelihood = -1951.7073
Iteration 2: log likelihood = -1904.334
Iteration 3: log likelihood = -1903.2898
Iteration 4: log likelihood = -1903.2888
Iteration 5: log likelihood = -1903.2888

Logistic regression Number of obs = 7,917

LR chi2(9) = 392.36
Prob > chi2 = 0.0000
Log likelihood = -1903.2888 Pseudo R2 = 0.0934

happiness Odds Ratio Std. Err. z P>|z| [95% Conf. Interval]

age .9687383 .003545 -8.68 0.000 .961815 .9757115

gender .8959866 .0816158 -1.21 0.228 .749489 1.071119
maritalstatus 2.572863 .2999305 8.11 0.000 2.047331 3.233293
location 1.167411 .1086973 1.66 0.096 .9726773 1.401132
education 1.10761 .0185791 6.09 0.000 1.071788 1.14463
Pengeluaran_jutaan 1.011626 .0022369 5.23 0.000 1.007252 1.01602
jobstatus 1.473967 .3467515 1.65 0.099 .9294845 2.337402
asuransi 1.946847 .6409693 2.02 0.043 1.021144 3.711734
factor1 1.165009 .0795631 2.24 0.025 1.019054 1.331868
_cons 3.946744 1.032571 5.25 0.000 2.363429 6.590757

Note: _cons estimates baseline odds.

Jurnal Ekonomi dan Bisnis, Volume 2x No. x April 201x, xx - xx 15