Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/172764 
Autor:innen: 
Erscheinungsjahr: 
2017
Schriftenreihe/Nr.: 
Economics Discussion Papers No. 2017-113
Verlag: 
Kiel Institute for the World Economy (IfW), Kiel
Zusammenfassung: 
Despite rising popularity of subjective well-being (SWB) as a proxy for utility, its relationship with income is still unresolved. Against the background of debates around the 'Easterlin paradox', this paper seeks a compromise between two positions: one that insists on individual relative income, and one that finds similarity between individual and aggregate levels. Proposing a model which puts the emphasis on the interaction between individual and aggregate-level factors, it argues that the effect of relative income on SWB varies across countries as a function of average income, in addition to a relatively small direct effect of the latter, in partial agreement with the two major positions. The model is tested cross-sectionally on the data from the latest wave of World Values Survey. The results from hierarchical mixed-effect models confirm the main argument. But further examination reveals that there is still unaccounted variation especially in middle-income economies.
Schlagwörter: 
subjective well-being
Easterlin paradox
relative income
national income
JEL: 
D31
C31
Creative-Commons-Lizenz: 
cc-by Logo
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
582.1 kB





Publikationen in EconStor sind urheberrechtlich geschützt.