Measuring Subjective Well-Being in Taiwan

This paper explores the measurement of subjective well-being (SWB) in Taiwan through survey data as a result of 13 self-reported SWB questions. We illustrate the findings using multivariate data analysis approaches. First, by taking the first two principal component scores extracted from all SWB measurements, the biplot presents a relatively "even" society for SWBs, in which the plot depicts all data-points radiating from the center. Second, we employ factor analysis to juxtapose these 13 SWB measurements into three factors: health-related, prosperity-related, and social-related. Third and finally, this paper applies the seemingly unrelated regression model to verify the determinants of SWB. The SWB measurements are mostly increasing in higher education and (disposable) income, while falling with unemployment. Volunteering, donating more money to charities, having more leisure time, spending more hours on sports, and being involved in more arts-related activities all enhance an individual's well-being. Gender and age may matter, but they are indecisive in the direction for various SWBs.