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Measuring happiness under interpersonal comparison: An advanced theoretical framework and implications

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  • Junyi Chai

Abstract

The origin of happiness arouses people’s curiosity for a long time. Recent research introduces a utility theory for measuring subjective happiness in a social context. The past recent monetary conditions influence the present subjective happiness through two distinct channels: interpersonal comparison and self-adaptation. In this paper, we develop this theory to analyze behavioral patterns. Together with prospect theory’s gain-loss utility function, we exploit the theory in predicting psychological phenomena of craving. We explore the relationships between happiness and earnings. Under certain conditions, a high payoff disappoints you immediately and even leads to continuous disappointment across periods. We extend the explanations of the scenarios of New York cabdrivers’ labor-supply decisions. The effect of social comparisons may trigger workers’ behaviors of quit-working, which deepen related understandings of the literature.

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  • Junyi Chai, 2021. "Measuring happiness under interpersonal comparison: An advanced theoretical framework and implications," PLOS ONE, Public Library of Science, vol. 16(12), pages 1-19, December.
    • Handle: RePEc:plo:pone00:0261407
    DOI: 10.1371/journal.pone.0261407
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    1. Junyi Chai, 2023. "Subjective Happiness in Behavioral Contracts," Journal of Happiness Studies, Springer, vol. 24(7), pages 2245-2260, October.

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