Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/59024
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dc.contributor.authorBudria, Santien_US
dc.contributor.authorFerrer-i-Carbonell, Adaen_US
dc.date.accessioned2012-06-06en_US
dc.date.accessioned2012-06-18T12:32:16Z-
dc.date.available2012-06-18T12:32:16Z-
dc.date.issued2012en_US
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_US
dc.language.isoengen_US
dc.publisher|aDeutsches Institut für Wirtschaftsforschung (DIW) |cBerlinen_US
dc.relation.ispartofseries|aSOEPpapers on multidisciplinary panel data research |x441en_US
dc.subject.jelD62en_US
dc.subject.jelI31en_US
dc.subject.ddc330en_US
dc.subject.keywordlife satisfactionen_US
dc.subject.keywordincome comparisonsen_US
dc.subject.keywordpersonality traitsen_US
dc.subject.stwZufriedenheiten_US
dc.subject.stwEinkommensverteilungen_US
dc.subject.stwSozialer Statusen_US
dc.subject.stwNutzenen_US
dc.subject.stwPersönlichkeitspsychologieen_US
dc.subject.stwSchätzungen_US
dc.subject.stwDeutschlanden_US
dc.titleIncome comparisons and non-cognitive skillsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn715684280en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US

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