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 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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Bibliographic InfoPaper provided by Institute for Social Syudies of Andalusia - Higher Council for Scientific Research in its series IESA Working Papers Series with number 0412.
Length: 30 pages
Date of creation: 2004
Date of revision:
Financial satisfaction; income valuation; comparison income; reference group; internal norm; external norm.;
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
This paper has been announced in the following NEP Reports:
- NEP-ALL-2004-08-02 (All new papers)
- NEP-CBE-2004-08-02 (Cognitive & Behavioural Economics)
- NEP-DCM-2004-08-02 (Discrete Choice Models)
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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- 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.
- 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.
- 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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