Individual Well-Being in a Dynamic Perspective
Abstract
This paper explores the determinants of individual well-being as measured by self-reported levels of satisfaction with income. Making full use of the panel data nature of the German Socio-Economic Panel, we provide empirical evidence for well-being depending on absolute and on relative levels of income in a dynamic framework. This finding holds after controlling for other influential factors in a multivariate setting. The main novelty of the paper is the consideration of dynamic aspects: individual’s own history as well as the relative income performance with respect to the others living in the society under analysis do play a major role in the assessment of well-being.Download Info
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Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 2618.Length: 24 pages
Date of creation: Feb 2007
Date of revision:
Handle: RePEc:iza:izadps:dp2618
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Related research
Keywords: interdependent preferences; inequality aversion; status; subjective well-being; SOEP;Other versions of this item:
- Conchita D'Ambrosio & Joachim R. Frick, 2012. "Individual Wellbeing in a Dynamic Perspective," Economica, London School of Economics and Political Science, vol. 79(314), pages 284-302, 04.
- Conchita D'Ambrosio & Joachim R. Frick, 2007. "Individual Well-Being in a Dynamic Perspective," SOEPpapers on Multidisciplinary Panel Data Research 5, DIW Berlin, The German Socio-Economic Panel (SOEP).
- Conchita D'Ambrosio & Joachim R. Frick, 2007. "Individual Well-Being in a Dynamic Perspective," Discussion Papers of DIW Berlin 673, DIW Berlin, German Institute for Economic Research.
- Conchita D’Ambrosio & Joachim R. Frick, 2007. "Individual Well-Being in a Dynamic Perspective," Working Papers 64, ECINEQ, Society for the Study of Economic Inequality.
- D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
- I31 - Health, Education, and Welfare - - Welfare and Poverty - - - General Welfare
- D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
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Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.Cited by:
- Clark, Andrew E., 2011.
"Happiness, Habits and High Rank: Comparisons in Economic and Social Life,"
IZA Discussion Papers
5966, Institute for the Study of Labor (IZA).
- Andrew E. Clark, 2012. "Happiness, Habits and High Rank: Comparisons in Economic and Social Life," SOEPpapers on Multidisciplinary Panel Data Research 452, DIW Berlin, The German Socio-Economic Panel (SOEP).
- Andrew E. Clark, 2008. "Happiness, habits and high rank: Comparisons in economic and social life," PSE Working Papers halshs-00586049, HAL.
- Stefano Bartolini & Ennio Bilancini & Francesco Sarracino, 2011.
"Predicting the Trend of Well-Being in Germany: How Much Do Comparisons, Adaptation and Sociability Matter?,"
SOEPpapers on Multidisciplinary Panel Data Research
414, DIW Berlin, The German Socio-Economic Panel (SOEP).
- BARTOLINI Stefano & BILANCINI Ennio & SARRACINO Francesco, 2010. "Predicting the Trend of Well-Being in Germany: How Much Do Comparisons, Adaptation and Sociability Matter?," CEPS/INSTEAD Working Paper Series 2010-07, CEPS/INSTEAD.
- Marco de Pinto, 2012. "The Redistribution of Trade Gains and the Equity-Efficiency Trade-Off," IAAEU Discussion Papers 201206, Institute of Labour Law and Industrial Relations in the European Union (IAAEU).
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