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dc.contributor.authorBudria, Santien
dc.contributor.authorFerrer-i-Carbonell, Adaen
dc.date.accessioned2012-06-06-
dc.date.accessioned2012-06-18T12:32:16Z-
dc.date.available2012-06-18T12:32:16Z-
dc.date.issued2012-
dc.identifier.urihttp://hdl.handle.net/10419/59024-
dc.description.abstractPeople gain utility from occupying a higher ranked position in the income distribution of the reference group. This paper investigates whether these gains depend on an individual's set of non-cognitive skills. Using the 2000-2008 waves of the German Socioeconomic Panel dataset (SOEP), a subjective question on Life Satisfaction, and three different sets of non-cognitive skills indicators, we find significant and robust differences across skills groups. People who are more neurotic, extravert and have low external locus of control and low negative reciprocity are more sensitive to their individual position in the economic ladder. By contrast, the Life Satisfaction reaction to changes in economic status is significantly lower among individuals who score high (low) in negative (positive) reciprocity, and are at the bottom of the distribution of neuroticism, extraversion. The heterogeneity on the importance of income comparisons needs to be taken into account when, for example, introducing them into economic models, predicting individuals' behaviour, or making welfare judgments.en
dc.language.isoengen
dc.publisher|aDeutsches Institut für Wirtschaftsforschung (DIW) |cBerlinen
dc.relation.ispartofseries|aSOEPpapers on Multidisciplinary Panel Data Research |x441en
dc.subject.jelD62en
dc.subject.jelI31en
dc.subject.ddc330en
dc.subject.keywordlife satisfactionen
dc.subject.keywordincome comparisonsen
dc.subject.keywordpersonality traitsen
dc.subject.stwZufriedenheiten
dc.subject.stwEinkommensverteilungen
dc.subject.stwSozialer Statusen
dc.subject.stwNutzenen
dc.subject.stwPersönlichkeitspsychologieen
dc.subject.stwSchätzungen
dc.subject.stwDeutschlanden
dc.titleIncome comparisons and non-cognitive skills-
dc.typeWorking Paperen
dc.identifier.ppn715684280en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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