Despite rising popularity of subjective well-being (SWB) as a proxy for utility, its relationship with income is still unresolved. Against the background of debates around the ‘Easterlin paradox’, this paper seeks a compromise between two positions: one that insists on individual relative...

In this paper we use several well-being measures that combine average income with a measure of inequality to undertake international and intertemporal well-being comparisons in transition countries. Our well-being measures drastically change the impression of levels and changes in well-being...