other individuals in the same personal, geographic or social networks, with the comparisons referring either to income or … other aspects of economic and social life. The existence of such comparison effects with respect to income may help to …

Higher income is associated with greater well-being, but do income gains and losses impact on well-being differently … falls in income have a larger impact on well-being than equivalent income gains. The effect is not explained by the … diminishing returns to well-being of income. Our findings show that loss aversion applies to experienced losses, counteracting …