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We study "habituation" to income and to status using individual panel data on the happiness of 7,812 people living in … Germany from 1984 to 2000. Specifically, we estimate a "happiness equation" defined over several lags of income and status and … compare the long run effects. We can (cannot) reject the hypothesis of no adaptation to income (status) during the four years …
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A growing theoretical and empirical literature shows that public recognition can lead employees to exert greater effort. However, status competition is also associated with excessive expenditure on status goods, greater likelihood of bankruptcy, and more risk taking by money managers. This paper...
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analysis reveals some striking similarities in the qualitative effects of children across countries, but also sharp differences …
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