The Multi-dimensional Characteristics of Wellbeing: How Different Aspects of Wellbeing Interact and Do Not Interact with Each Other

Because wellbeing is a multi-varied and dynamic phenomenon, social scientists need to better understand how different aspects
of people’s wellbeing are tied together and how these ties differ between individuals at one point in time and within individuals
over time. The paper outlines a general model that considers the multidimensional structure of wellbeing. We utilize the potential
of latent variable modelling on a unique Swedish database: the Panel Survey of Ageing and the Elderly (PSAE). An inclusive and flexible model that considers the interactions between semi-autonomous domains (material resources, health,
psychosocial factors, lifestyle, etc.) is developed. Our empirical study is based on cross-sectional PSAE data and focuses on people 55 years or older (N = 5,374). The analysis takes advantage of recent developments in statistical
theory in the field of latent variable modelling to bring about a more dynamic and theory confirming analysis of a multifaceted
phenomenon such as wellbeing.