Layard, Richard; Mayraz, Guy; Nickell, Stephen - Centre for Economic Performance, LSE - 2009
income. 2) In the West German Socio-Economic Panel since 1984 the same is true but with lifesatisfaction as the dependant … variable. We also use the Panel to compare the effect of income comparisons and of adaptation as factors explaining the stable … - further supporting the view that comparisons matter. 4) Finally, for a panel of European countries since 1973 we estimate the …