Building Financial Satisfaction
AbstractThis paper aims to contribute further research on the conceptualization of individual financial satisfaction as a particular domain of satisfaction with life as a whole. Based on the 2003 Survey on Living Conditions and Poverty for AndalucÃa (Spain) and using a self-reported measure of welfare, ordered probit models are used to analyze the extent to which individual financial satisfaction can be solely explained by income in absolute terms, or alternatively, by taking into account the importance of relative income in its two dimensions: (1) personal aspirations as individual's adaptation to previous and future income levels (intra-individual comparisons), and (2) social comparisons as individual's concern for her peer's income (inter-personal dependency).
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Bibliographic InfoArticle provided by Springer in its journal Social Indicators Research.
Volume (Year): 77 (2006)
Issue (Month): 2 (06)
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Web page: http://www.springer.com/economics/journal/11135
Other versions of this item:
- D60 - Microeconomics - - Welfare Economics - - - General
- I30 - Health, Education, and Welfare - - Welfare and Poverty - - - General
- I31 - Health, Education, and Welfare - - Welfare and Poverty - - - General Welfare
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- Armin Falk & Markus Knell, . "Choosing the Joneses On the Endogeneity of Reference Groups," IEW - Working Papers 053, Institute for Empirical Research in Economics - University of Zurich.
- Chong Shyue Chuan & Sia Bik Kai & Ng Kean Kok, 2011. "Resource Transfers And Financial Satisfaction: A Preliminary Correlation Analysis," Journal of Global Business and Economics, Global Research Agency, vol. 3(1), pages 146-156, July.
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- Cortés Aguilar, Alexandra & Moro-Egido, Ana I. & Ateca Amestoy, Victoria María, 2011. "Social Interactions and Subjective Well-Being: Evidence from Latin America," DFAEII Working Papers 2011-05, University of the Basque Country - Department of Foundations of Economic Analysis II.
- Michael Gutter & Zeynep Copur, 2011. "Financial Behaviors and Financial Well-Being of College Students: Evidence from a National Survey," Journal of Family and Economic Issues, Springer, vol. 32(4), pages 699-714, December.
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- Thomas Hansen & Britt Slagsvold & Torbjørn Moum, 2008. "Financial Satisfaction in Old Age: A Satisfaction Paradox or a Result of Accumulated Wealth?," Social Indicators Research, Springer, vol. 89(2), pages 323-347, November.
- Plagnol, Anke C., 2011. "Financial satisfaction over the life course: The influence of assets and liabilities," Journal of Economic Psychology, Elsevier, vol. 32(1), pages 45-64, February.
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