Table 4.
Random and fixed effect models results.
| Individual Fixed Effects | Time Fixed Effects | Two-way Fixed Effects | Random Effect | |
|---|---|---|---|---|
| Happiness | 1.08 | 3.42*** | 1.12 | 3.41*** |
| (Intercept) | 50.46*** | |||
| R^2 | 0.20 | 0.67 | 0.20 | 0.65 |
| Adj. R^2 | 0.17 | 0.53 | 0.17 | 0.55 |
| Num obs. | 29,939 | 29,939 | 29,939 | 29,939 |
***p<0.001; **p<0.01; *p<0.05