Ye, Maoliang. / Thesis (M.Phil.)--Chinese University of Hong Kong, 2007. / Includes bibliographical references (leaves 32-36). / Abstracts in English and Chinese. / ABSTRACT --- p.i / 摘要 --- p.ii / ACKNOWLEDGEMENT --- p.iii / Chapter 1 --- Introduction --- p.1 / Chapter 2 --- Literature Review --- p.5 / Chapter 2.1 --- Measurement of Happiness and Its Reliability --- p.5 / Chapter 2.2 --- Income and Happiness: Hypotheses --- p.8 / Chapter 2.3 --- Literature Review on MZ twins approach --- p.12 / Chapter 3 --- Methods --- p.15 / Chapter 3.1 --- Omitted Variable Bias (Selection Effect) --- p.15 / Chapter 3.1.1 --- Ordinary Least Squares (OLS) Model --- p.15 / Chapter 3.1.2 --- Fixed-Effect (FE) Model --- p.16 / Chapter 3.2 --- Measurement Error --- p.17 / Chapter 4 --- Data --- p.19 / Chapter 5 --- Results --- p.21 / Chapter 5.1 --- Does Income Matter? --- p.21 / Chapter 5.1.1 --- OLS Regressions Using the Whole Sample --- p.21 / Chapter 5.1.2 --- Within-twin-pair Fixed-effect Estimations --- p.23 / Chapter 5.2 --- Sensitivity Analysis --- p.24 / Chapter 5.2.1 --- Other Indicators of Wealth --- p.24 / Chapter 5.2.2 --- Wage or Wage Rate? --- p.25 / Chapter 5.2.3 --- Measurement Error --- p.25 / Chapter 5.2.3.1 --- Does Education Matter? --- p.25 / Chapter 5.2.3.2 --- Reexamine the Income Effect --- p.27 / Chapter 5.3 --- Men vs Women --- p.29 / Chapter 5.4 --- Within Marriage: Income Pooling or Relative Economic Status? --- p.30 / Chapter 6 --- Conclusions --- p.31 / Chapter 7 --- Bibliography --- p.32 / Table 1: Descriptive Statistics of the Twins --- p.37 / Table 2: OLS Estimates of Happiness Using All Twins --- p.38 / Table 3: Ordered Probit Estimates of Happiness Using All Twins --- p.39 / Table 4: Within-twin-pair Fixed Effect Estimates of Happiness Using MZ Twins --- p.40 / Table 5: Within-twin-pair Fixed Effects Estimates of Happiness Using MZ Twins: Other Indexes --- p.41 / Table 6: Within-twin-pair Fixed Effects Estimates of Happiness Using MZ Twins: Using Wage Rate --- p.42 / Table 7a： Correlation Matrices of Different Measurements on Education --- p.43 / Table 7b： Correlation Matrices of Different Measurements on Income --- p.43 / Table 8: Estimates of The Effect of Education on Happiness: Considering Measurement Error --- p.44 / Table 9: Reexamine the Effect of Income on Happiness: Considering Measurement Error --- p.45 / Table 10: OLS Estimates of Happiness Using Female and Male Twins --- p.46 / Table 11: Within-twin-pair Fixed Effect Estimates of Happiness Using Male MZ Twins --- p.47 / Table 12: Within-twin-pair Fixed Effect Estimates of Happiness Using Female MZ Twins --- p.48 / Table 13: Within-twin-pair Fixed Effect Estimates of Happiness Using Married MZ Twins --- p.49 / Table 14: Within-twin-pair Fixed Effect Estimates of Happiness Using Married Male MZ Twins --- p.50 / Table 15: Within-twin-pair Fixed Effect Estimates of Happiness Using Married Female MZ Twins --- p.51