The analysis of the factors which affect the life satisfaction of individuals and differences based on the income groups with the ordered choice models

Life satisfaction is the manifestation of how individuals feel about everything in general about their lives from their desires and goals through their health, social relationships, work-related conditions, economic statuses and views about their country. Individuals endeavor to improve their quality of life, to enjoy life and to achieve a better life. Individuals are more satisfied with the life as their expectations are fulfilled and they have better conditions. The income factor is essential on life satisfaction. Because income has the ability to affect many factors that define life satisfaction. In this study it is aimed to analyze factors that influence the life satisfaction of individuals living in Turkey in 2018 and to determine how these factors affect life satisfaction by the income of individuals. The data used in the study was obtained from the Life Satisfaction Survey for 2018 issued by Turkish Statistical Institute. The factors that are believed to have impacts on life satisfaction were estimated and interpreted by using ordered logit model and generalized ordered logit model approaches. Keywords: Life Satisfaction, Ordered Choice Models, Ordered Logit Model, Generalized Ordered Logit Model.