TABLE 5.

Robustness test results.

	Life satisfaction	Future confidence level
	y1 (Order Probit)	y2 (Order Probit)
Winsorization processing Enrollment after processing	0.0486***	0.0588***
	(0.0107)	(0.0110)
Year of enrollment	0.0309***	0.0034
	(0.0031)	(0.0032)
Age	0.0041***	−0.0101***
	(0.0004)	(0.0004)
Gender	−0.1144***	0.0362***
	(0.0104)	(0.0107)
Political appearance	0.0349	0.0676**
	(0.0300)	(0.0310)
Marital status	0.0842***	0.1696***
	(0.0147)	(0.0151)
Self-assessed income	0.3400***	0.2631***
	(0.0052)	(0.0053)
Regional distribution	−0.0266***	−0.0423***
	(0.0062)	(0.0063)
Observations	43,700	43,700

** and ***Denote 5% and 1% significance levels.