Despite rising popularity of subjective well-being (SWB) as a proxy for utility, its relationship with income is still …: one that insists on individual relative income, and one that finds similarity between individual and aggregate levels … effect of relative income on SWB varies across countries as a function of average income, in addition to a relatively small …

I investigate the consequences of income fluctuations caused by commodity price changes on happiness levels in regions …. The results indicate that exposure to income fluctuations, even to a positive one, is associated with a notable decrease … price fluctuations but only on financial satisfaction, suggesting that a mere compensation of income losses does not fully …