We provide a critique of the methods that have been used to derive measures of income risk and draw attention to the importance of demographic factors as a source of income risk. We also propose new measures of the contribution to total income risk of demographic and labour market factors....

The hedonic treadmill model for subjective well-being was subject to several recent empirical analyses based on individual panel data. Most of this adaptation literature is concentrated on how life events affect measures of life satisfaction and happiness, whereas adaptation processes of domain...