Clark, Andrew E.; Frijters, Paul; Shields, Michael - Institute for the Study of Labor (IZA) - 2007
presence of relative income terms in the utility function. Income may be evaluated relative to others (social comparison) or to … also discuss the relation (or not) between happiness and utility and discuss some non-happiness research (behavioural …, experimental, neurological) dealing with income comparisons. We last consider how relative income in the utility function affects …