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Building Financial Satisfaction

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Author Info
Esperanza Vera-Toscano ()
Victoria Ateca-Amestoy
Rafael Serrano-del-Rosal

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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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Publisher Info
Paper provided by Institute for Social Syudies of Andalusia - Higher Council for Scientific Research in its series IESA Working Papers Series with number 0412.

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Length: 30 pages
Date of creation: 2004
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Handle: RePEc:esa:iesawp:0412

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Web page: http://www.iesaa.csic.es/
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Related research
Keywords: Financial satisfaction income valuation comparison income reference group internal norm external norm.

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    Other versions:
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    Other versions:
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Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. J. Bonke & M. Deding & M. Lausten, 2006. "Time and Money: Substitutes in Real Terms and Complements in Satisfactions," Economics Working Paper Archive wp_451, Levy Economics Institute, The. [Downloadable!]
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