Financial well-being is distinct from income. Some people with high incomes suffer low financial well-being, as their … aspirations. We find that people whose aspirations exceed their income are less risk-averse and less loss-averse than people whose …

The paper compares different estimation strategies of ordered response models in the presence of non-random unobserved …

The paper compares different estimation strategies of ordered response models in the presence of non-random unobserved …

marginal utility of income. This paper suggests that we have not. It draws a distinction between concavity of the utility …

education and income on life satisfaction …A large “happiness”, or life satisfaction, literature in economics makes use of Likert-like scales in assessing survey … subjective well-being. In addition, arguably, the inferred impact of material wealth and income using this method is also …

marginal utility of income. This paper suggests that we have not. It draws a distinction between concavity of the utility …

-resolution meteorological data, we introduce a new proxy for income uncertainty - mean-preserving rainfall variability - and estimate that an … increase in income uncertainty is associated with reductions in objective consumption and subjective well-being (SWB …

sensitivity of income estimates used in valuation. We address the endogeneity issue by decomposing wellbeing losses into those … relative who had not had an accident. We use of the Fixed Effects Filtered (FEF) estimator to enable the permanent income … coefficient to be estimated free from individual fixed effects bias. This estimate is used instead of the transient income effect …