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Income Aspirations, Television and Happiness: Evidence from the World Value Surveys

Author

Listed:
  • Luigino Bruni

    (Department of Economics, University of Milan-Bicocca)

  • Luca Stanca

    (Department of Economics, University of Milan-Bicocca)

Abstract

This paper argues that television viewing produces higher material aspirations, by enhancing both adaptation and positional effects, thus lowering the effect of income on life satisfaction. Using individual data from the World Values Survey we present evidence indicating that the effect of income on both life and financial satisfaction is significantly smaller for heavy television viewers, relative to occasional viewers. This finding is robust to a number of specification checks and alternative interpretations. Overall, the results can be interpreted as providing an additional explanation for the income-happiness paradox: the pervasive and increasing role of television viewing in people’s life, by raising material aspirations, reduces the effect of income on individual happiness.

Suggested Citation

  • Luigino Bruni & Luca Stanca, 2005. "Income Aspirations, Television and Happiness: Evidence from the World Value Surveys," Working Papers 89, University of Milano-Bicocca, Department of Economics, revised Jun 2005.
    • Handle: RePEc:mib:wpaper:89
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    More about this item

    Keywords

    subjective well-being; TV consumption; aspiration level;
    All these keywords.

    JEL classification:

    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being

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