A theory of happiness-wealth relationship with status-sensitive communication
Personal happiness might not solely depend on the individual's level of wealth but also on the individual's level of sincere social capital. This paper argues that if sincere interpersonal communication is sensitive to economic status disparities, the accumulation of personal wealth beyond the community's average erodes the individual's sincere social capital. A measure of sincere social capital that is based on such sensitivity is constructed. Its consideration leads to the depiction of the individual's happiness-wealth relationship as an inverted U-shaped curve that peaks at personal wealth that is greater than the community mean.
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Volume (Year): 38 (2009)
Issue (Month): 1 (January)
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References listed on IDEAS
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- Ruut Veenhoven, 1991. "Is happiness relative?," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 24(1), pages 1-34, February.
- Carol Graham & Stefano Pettinato, 2001. "Happiness, Markets, and Democracy: Latin America in Comparative Perspective," Journal of Happiness Studies, Springer, vol. 2(3), pages 237-268, September.
- Shlomo Yitzhaki, 1979. "Relative Deprivation and the Gini Coefficient," The Quarterly Journal of Economics, Oxford University Press, vol. 93(2), pages 321-324.
- Sen, Amartya, 1973. "On Economic Inequality," OUP Catalogue, Oxford University Press, number 9780198281931, December.
- Ed Diener & Ed Sandvik & Larry Seidlitz & Marissa Diener, 1993. "The relationship between income and subjective well-being: Relative or absolute?," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 28(3), pages 195-223, March.
- Joel Sobel, 2002. "Can We Trust Social Capital?," Journal of Economic Literature, American Economic Association, vol. 40(1), pages 139-154, March.
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