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Building Financial Satisfaction

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Author Info

  • Esperanza Vera-Toscano

    ()

  • Victoria Ateca-Amestoy
  • Rafael Serrano-Del-Rosal

Abstract

This 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 Andalucía (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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File URL: http://hdl.handle.net/10.1007/s11205-005-2614-3
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Bibliographic Info

Article provided by Springer in its journal Social Indicators Research.

Volume (Year): 77 (2006)
Issue (Month): 2 (06)
Pages: 211-243

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Handle: RePEc:spr:soinre:v:77:y:2006:i:2:p:211-243

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Web page: http://www.springer.com/economics/journal/11135

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Related research

Keywords: comparison income; external norm; financial satisfaction; income valuation; internal norm; reference group; D60; I30; I31;

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References

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  1. 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.
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Citations

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Cited by:
  1. Maria Cracolici & Francesca Giambona & Miranda Cuffaro, 2014. "Family Structure and Subjective Economic Well-Being: Some New Evidence," Social Indicators Research, Springer, vol. 118(1), pages 433-456, August.
  2. Jing Xiao & Chuanyi Tang & Soyeon Shim, 2009. "Acting for Happiness: Financial Behavior and Life Satisfaction of College Students," Social Indicators Research, Springer, vol. 92(1), pages 53-68, May.
  3. 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.
  4. 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.
  5. Esperanza Vera-Toscano & Victoria Ateca-Amestoy, 2008. "The relevance of social interactions on housing satisfaction," Social Indicators Research, Springer, vol. 86(2), pages 257-274, April.
  6. 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.
  7. Jing Xiao & Cheng Chen & Fuzhong Chen, 2014. "Consumer Financial Capability and Financial Satisfaction," Social Indicators Research, Springer, vol. 118(1), pages 415-432, August.
  8. Ognjen Obućina, 2013. "The Patterns of Satisfaction Among Immigrants in Germany," Social Indicators Research, Springer, vol. 113(3), pages 1105-1127, September.
  9. Victoria Ateca-Amestoy & Alexandra Aguilar & Ana Moro-Egido, 2014. "Social Interactions and Life Satisfaction: Evidence from Latin America," Journal of Happiness Studies, Springer, vol. 15(3), pages 527-554, June.
  10. 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.
  11. 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.

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