FitzRoy, Felix R.; Nolan, Michael A.; Steinhardt, Max … - 2011
income. The effects on life-satisfaction are positive and significant for those under 45, consistent with Hirschman's (1973 … comparison income effect. In East Germany the reference income effects are insignificant for all. With data from the British … significant negative effects. -- subjective life-satisfaction ; comparison income ; reference groups ; age ; welfare …