Table 3.
The mechanism test based on the new method.
| (5) | (6) | (7) | (8) | |
|---|---|---|---|---|
| Education | 0.1106 (2.56)** | 0.1414 (3.32)*** | 0.1144 (2.73)*** | 0.1422 (2.17)** |
| Happiness | 0.2782 (6.38)*** | 0.2697 (3.84)*** | ||
| Age | −0.0496 (−9.44)*** | −0.0256 (−29.94) | −0.0394 (−3.76)*** | −0.0258 (−3.49)*** |
| Income | 0.0313 (6.17)*** | 0.0300 (5.96)*** | 0.0237 (3.12)*** | 0.0272 (4.36)*** |
| Sex | 0.0822 (3.16)*** | 0.0832 (3.20)*** | 0.0750 (2.74)*** | 0.0878 (2.39)** |
| Marriage | 0.1720 (4.87)*** | 0.1038 (3.19)*** | 0.1608 (3.56)*** | 0.1254 (2.56)** |
| Work | 0.2568 (8.77)*** | 0.2350 (8.07)*** | 0.2536 (4.63)*** | 0.2524 (3.12)*** |
| Log likelihood | −8133.5294 | −8138.1288 | −8130.6683 | −8127.4898 |
| P value (LR) | 0.0167 | 0.0000 | ||
| Standard deviation | 1.0637 | 1.5878 | ||
| Skewness | 0.6425 | 0.6411 | ||
| Kurtosis | 3.7317 | 2.3779 |
*, **, and ***
are significant at the 10, 5, and 1% levels, respectively. T-statistics is reported in brackets. The table reports LR test of ordinary OP model only, and P-value results from LR test.