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group’? A fourth type of contribution studied is the role of entrepreneurship in increasing individuals’ utility levels …
Persistent link: https://www.econbiz.de/10005822686
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 …
Persistent link: https://www.econbiz.de/10005763569
This paper models the relationship between income and reported well-being using latent class techniques applied to panel data from twelve European countries. Introducing both intercept and slope heterogeneity into this relationship, we strongly reject the hypothesis that individuals transform...
Persistent link: https://www.econbiz.de/10005763608