New study suggests pets increase human life satisfaction and well-being

Having a cat or a dog as a companion can increase human life satisfaction and well-being as much as family and friends do, according to new Kent-led research.

Analysis by economic researchers estimating pets’ impact on human life satisfaction and well-being in monetary units found that cat and dog companions are in fact worth up to £70,000 a year in life satisfaction to their owners. This has been concluded using the “life satisfaction approach,” a methodology developed by economists and a process using simple regression analysis to determine the implicit price of different factors or occurrences in life.

For example, economists have shown using life satisfaction surveys that marriage, compared to being single, is worth around £70,000 a year for a representative person in Great Britain.

While pets have long been associated with better health benefits both physically and mentally, the direct contribution to life satisfaction had not been conclusive in previous research. The paper published by Social Indicators Research also revealed what personality traits are linked to cat and dog caregivers. Cat caregivers were found to be more open whereas dog caregivers appear to be more extroverted, agreeable and less neurotic. Pet caregivers in general appear to be more open, conscientious, and extroverted than non-pet caregivers.

The research was led by Dr. Adelina Gschwandtner at Kent’s School of Economics, Politics and International Relations alongside Dr. Michael Gmeiner at London School of Economics (LSE).

Dr. Gschwandtner said, “This research answers the question of whether overall pet companions are good for us with a resounding ‘Yes.’ Pets care for us and there is a significant monetary value associated with their companionship. This information can be used for health care practice and policies aiming to increase well-being and life satisfaction of humans involving pets.”