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Easterlin, Richard A.; O'Connor, Kelsey J. - 2020

The Easterlin Paradox states that at a point in time happiness varies directly with income, both among and within … nations, but over time the long-term growth rates of happiness and income are not significantly related. The principal reason … vitiates the otherwise positive effect of own-income growth on happiness. Critics of the Paradox mistakenly present the …

Persistent link: https://www.econbiz.de/10012391355

Does the COVID-19 pandemic cause people to be unhappy? : evidence from a six-country survey

Cuong Viet Nguyen - 2021

Does the COVID-19 pandemic cause people unhappy? In this study, we use a recent survey from China, Japan, South Korea, Italy, the United Kingdom and the United States to explore this question. We find a relatively large effect: a one per-mille point increase in the incidence of the COVID-19...

Persistent link: https://www.econbiz.de/10012422564

The marginal utility of income

Layard, Peter R. G.; Mayraz, Guy; Nickell, Stephen J. - 2008 - Revised version

inequality. We estimate this parameter using four large cross-sectional surveys of subjective happiness and two panel surveys … (which are based directly on the scale of reported happiness) could be biased upwards if true utility is convex with respect … to reported happiness. We find some evidence of such bias, but it is small-yielding a new estimated elasticity of 1 …

Persistent link: https://www.econbiz.de/10011630578

Does relative income matter? : are the critics right?

Layard, Peter R. G.; Mayraz, Guy; Nickell, Stephen J. - 2009

Do other peoples' incomes reduce the happiness which people in advanced countries experience from any given income? And … does this help to explain why in the U.S., Germany and some other advanced countries, happiness has been constant for many … samples since 1972) comparator income has a negative effect on happiness equal in magnitude to the positive effect of own …

Persistent link: https://www.econbiz.de/10011635703

A satisfaction-driven poverty indicator : a bustle around the poverty line

Juhász, Andos - 2012 - This version: 30. July 2012

Poverty line definitions in use often lack a solid scientific foundation. This paper proposes to exploit data on income satisfaction to construct an evidence-based poverty line. The poverty line is identified by using its assumed unique property to explain income dissatisfaction best among all...

Persistent link: https://www.econbiz.de/10009578805

Happiness, habits and high rank : comparisons in economic and social life

Clark, Andrew E. - 2012

The role of money in producing sustained subjective well-being seems to be seriously compromised by social comparisons and habituation. But does that necessarily mean that we would be better off doing something else instead? This paper suggests that the phenomena of comparison and habituation...

Persistent link: https://www.econbiz.de/10009557657

Income comparisons, income adaptation, and life satisfaction : how robust are estimates from survey data?

Pfaff, Tobias - 2013 - This version: May, 2013

Theory suggests that subjective well-being is affected by income comparisons and adaptation to income. Empirical tests of the effects often rely on self-constructed measures from survey data. This paper shows that results can be highly sensitive to simple parameter changes. Using large-scale...

Persistent link: https://www.econbiz.de/10009747812

Testing the easterlin hypothesis with panel data : the dynamic relationship between life satisfaction and economic growth in Germany and the UK

Pfaff, Tobias; Hirata, Johannes - 2013 - This version: February, 2013

Recent studies focused on testing the Easterlin hypothesis (happiness and national income correlate in the cross … from previous research, we now count three countries for which Easterlin's happiness-income hypothesis cannot be rejected …

Persistent link: https://www.econbiz.de/10009747819

Does the choice of well-being measure matter empirically? : an illustration with German data

Decancq, Koen; Neumann, Dirk - 2014

We discuss and compare five measures of individual well-being, namely income, an objective composite well-being index, a measure of subjective well-being, equivalent income, and a well-being measure based on the von Neumann-Morgenstern utilities of the individuals. After examining the...

Persistent link: https://www.econbiz.de/10010462001

Causality in the link between income and satisfaction : IV estimation with internal instruments

Elsas, Susanne - 2021

Usually, it is expected that income increases life satisfaction. In recent years tough, research emerged that shows how subjective well-being, including satisfaction, influences objective measures, as for example income. This would then require explicit identification strategies for estimating...

Persistent link: https://www.econbiz.de/10012621934