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This paper presents an empirical analysis of the importance of 'comparison income' for individual well-being or … the distance between own income and the income of the reference group, and asymmetry of comparisons, i.e. the comparison … income effect differing between richer and poor individuals. The analysis uses a self-reported measure of satisfaction with …
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People who are unable to maintain the same standard of living as others around them experience a sense of relative deprivation that has been shown to reduce feelings of well-being. Relative deprivation reflects conditions of worsening relative poverty despite striking reductions in absolute...
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