Learning about one’s relative position and subjective well-being
AbstractIn this paper we show evidence which suggests that changes in an individual’s relative position affects his subjective well-being. In this sense, our findings are in line with those who argue that a felicity function should take into account both, absolute and relative position. Our result are based on a simple experimental design to discuss whether learning about one’s relative position affects subjective well-being. Additionally, using nonexperimental data we find a significant association between subjective well-being and relative wage.
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Bibliographic InfoPaper provided by Department of Economics - dECON in its series Documentos de Trabajo (working papers) with number 0906.
Length: 20 pages
Date of creation: Sep 2006
Date of revision:
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relative income; subjective well-being;
Other versions of this item:
- Daniel Miles & Maximo Rossi, 2007. "Learning about one's relative position and subjective well-being," Applied Economics, Taylor & Francis Journals, vol. 39(13), pages 1711-1718.
- C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
- I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
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