This paper investigates the relationship between income satisfaction of adult children and their relative economic … children appear to compare their actual economic status with that of their parents, deriving large satisfaction gains from an … income rank that is higher than that of their parents. The effect is asymmetric with regard to parents, as these seem not to …

of parental income, and that children appear to compare their actual income situation with the aspiration level acquired …High parental income, while undeniably causing benefits for a child in terms of better access to education and more … favorable labor market outcomes, may at the same time increase a child's income aspirations and thereby reduce financial …