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Happiness, Habits and High Rank: Comparisons in Economic and Social Life

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  • Andrew E. Clark

Abstract

The role of money in producing sustained subjective well-being seems to be seriously compromised by social comparisons and habituation. But does that necessarily mean that we would be better off doing something else instead? This paper suggests that the phenomena of comparison and habituation are actually found in a considerable variety of economic and social activities, rendering conclusions regarding well-being policy less straightforward.

Suggested Citation

  • 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).
    • Handle: RePEc:diw:diwsop:diw_sp452
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    Comparison; habituation; income; unemployment; marriage; divorce; health; religion; policy;
    All these keywords.

    JEL classification:

    • D1 - Microeconomics - - Household Behavior
    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • H0 - Public Economics - - General
    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
    • J12 - Labor and Demographic Economics - - Demographic Economics - - - Marriage; Marital Dissolution; Family Structure
    • J28 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Safety; Job Satisfaction; Related Public Policy

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