IDEAS home Printed from https://ideas.repec.org/p/soz/wpaper/0816.html

Relative status and satisfaction

Author

Listed:
  • Stefan Boes

    (Socioeconomic Institute, University of Zurich)

  • Kevin E. Staub

    (Socioeconomic Institute, University of Zurich)

  • Rainer Winkelmann

    (Socioeconomic Institute, University of Zurich)

Abstract

This paper investigates the relationship between income satisfaction of adult children and their relative economic status, using data from the German Socio-Economic Panel and income rank as an indicator of status. The results show that children appear to compare their actual economic status with that of their parents, deriving large satisfaction gains from an income rank that is higher than that of their parents. The effect is asymmetric with regard to parents, as these seem not to be ifluenced by their children's income rank.

Suggested Citation

  • Stefan Boes & Kevin E. Staub & Rainer Winkelmann, 2008. "Relative status and satisfaction," SOI - Working Papers 0816, Socioeconomic Institute - University of Zurich.
    • Handle: RePEc:soz:wpaper:0816
    as

    Download full text from publisher

    File URL: https://www.zora.uzh.ch/id/eprint/52403/1/wp0816.pdf
    File Function: first version, 2008
    Download Restriction: no
    ---><---

    Other versions of this item:

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Guadalupe Manzano-García & Juan-Carlos Ayala-Calvo, 2020. "Entrepreneurial Orientation: Its Relationship with the Entrepreneur’s Subjective Success in SMEs," Sustainability, MDPI, vol. 12(11), pages 1-17, June.
    2. Christian Grund & Johannes Martin, 2017. "Monetary Reference Points of Managers – Empirical Evidence of Status Quo Preferences and Social Comparisons," Scottish Journal of Political Economy, Scottish Economic Society, vol. 64(1), pages 70-87, February.
    3. Robin Samuel & Manfred Bergman & Sandra Hupka-Brunner, 2013. "The Interplay between Educational Achievement, Occupational Success, and Well-Being," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 111(1), pages 75-96, March.
    4. Lekfuangfu, Warn N. & Odermatt, Reto, 2022. "All I have to do is dream? The role of aspirations in intergenerational mobility and well-being," European Economic Review, Elsevier, vol. 148(C).
    5. Sasaki, Shusaku & Kurokawa, Hirofumi & Ohtake, Fumio, 2019. "Positive and negative effects of social status on longevity: Evidence from two literary prizes in Japan," Journal of the Japanese and International Economies, Elsevier, vol. 53(C), pages 1-1.
    6. Grund, Christian & Martin, Johannes, 2012. "Monetary Reference Points of Managers: An Empirical Investigation of Status Quo Preferences and Social Comparisons," IZA Discussion Papers 7097, Institute of Labor Economics (IZA).
    7. Kalenborn, Christine & Lessmann, Christian, 2014. "Regional Income Inequality lowers Life Satisfaction: Evidence from OECD Countries," VfS Annual Conference 2014 (Hamburg): Evidence-based Economic Policy 100561, Verein für Socialpolitik / German Economic Association.
    8. Roberta Distante, 2013. "Subjective Well-Being, Income and Relative Concerns in the UK," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 113(1), pages 81-105, August.
    9. Michele Sennhauser, 2009. "Why the Linear Utility Function is a Risky Choice in Discrete-Choice Experiments," SOI - Working Papers 1014, Socioeconomic Institute - University of Zurich.
    10. Pfaff, Tobias, 2013. "Income comparisons, income adaptation, and life satisfaction: How robust are estimates from survey data?," CIW Discussion Papers 5/2013, University of Münster, Center for Interdisciplinary Economics (CIW).
    11. Michael Lechner & Gabriel Okasa, 2025. "Random Forest estimation of the ordered choice model," Empirical Economics, Springer, vol. 68(1), pages 1-106, January.
    12. Polk, Andreas & Schmutzler, Armin & Müller, Adrian, 2014. "Lobbying and the power of multinational firms," European Journal of Political Economy, Elsevier, vol. 36(C), pages 209-227.
    13. Bille, Trine & Fjællegaard, Cecilie Bryld & Frey, Bruno S. & Steiner, Lasse, 2013. "Happiness in the arts—International evidence on artists’ job satisfaction," Economics Letters, Elsevier, vol. 121(1), pages 15-18.
    14. Martin Carree & Ingrid Verheul, 2012. "What Makes Entrepreneurs Happy? Determinants of Satisfaction Among Founders," Journal of Happiness Studies, Springer, vol. 13(2), pages 371-387, April.
    15. Tobias Pfaff, 2013. "Income Comparisons, Income Adaptation, and Life Satisfaction: How Robust Are Estimates from Survey Data?," SOEPpapers on Multidisciplinary Panel Data Research 555, DIW Berlin, The German Socio-Economic Panel (SOEP).
    16. Costanza Naguib, 2022. "Financial Turmoil and Earnings Mobility," Diskussionsschriften dp2208, Universitaet Bern, Departement Volkswirtschaft.

    More about this item

    Keywords

    ;
    ;
    ;

    JEL classification:

    • D62 - Microeconomics - - Welfare Economics - - - Externalities
    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:soz:wpaper:0816. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Severin Oswald (email available below). General contact details of provider: https://edirc.repec.org/data/seizhch.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.