Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/104772 
Year of Publication: 
2014
Series/Report no.: 
IAAEU Discussion Paper Series in Economics No. 11/2014
Publisher: 
University of Trier, Institute for Labour Law and Industrial Relations in the European Union (IAAEU), Trier
Abstract: 
This paper presents detailed evidence about who compares to whom in terms of relative income. We rely on representative survey data on the importance of income comparisons vis-á-vis seven reference groups, allowing us to exploit within-subject heterogeneity. We explore the prevalence and determinants of positional income concerns, investigating the role of personality and economic preferences. Our results establish robust relationships between positional income concerns and the personality traits agreeableness, conscientiousness, and neuroticism, some of which depend on the reference group. Furthermore, risk and fairness preferences are significantly correlated with positional income concerns.
Subjects: 
relative income
status
personality
Big Five
survey
SOEP
economic preferences
risk
fairness
JEL: 
D03
D12
D63
Document Type: 
Working Paper

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