Relationship between education and well-being in China.

Well-being is often quantitatively measured based on individuals' income or health situation but the relationship between education and well-being has not been fully investigated. It is also important to compare well-being using different individual characteristics especially gender. This paper analyzes well-being using a unique dataset from the Chinese General Social Surveys in 2012, 2013, and 2015. Two measures of well-being are used: self-assessed unidimensional subjective well-being and parametrically estimated multidimensional objective well-being. Objective well-being is a composite parametric index with contributions from different domains of education influenced by identity, capability, and material well-being. These help in understanding the differences between and compare subjective and objective well-being. The results of our descriptive and regression analysis suggests that the multidimensional well-being index differs from subjective well-being in ranking individuals grouped by important common characteristics. These differences are captured by our study which helps to broaden the measurement and analysis of the multidimensionality of the well-being index. Education influences well-being positively, conditional on controlling for identity, capability, material and marital status, and Confucianism. Investments in education and female empowerment which target well-being measures will help reduce the dimensionality of the gender gap in rural China, in particular those attributed to Confucianism.