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Using data from 4 waves of an Australian panel study, this study offers a dynamic account of relations between personality, life events, and subjective well-being (SWB). Members of the Victorian Quality of Life panel study were interviewed 4 times: in 1981, 1983, 1985, and 1987. The initial sample size was 942; 649 respondents remain. The study shows that very stable personality traits (neuroticism, extraversion, and openness to experience) predispose people to experience moderately stable levels of favorable and adverse life events and moderately stable levels of SWB. However, contrary to the implications of previous research (Costa unusually adverse events depress it. The dynamic equilibrium model is compared with 3 alternatives: personality models, adaptation level models, and models that treat life events as being wholly exogenous.
Headey et al. (Sun,) studied this question.