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Learning about one’s relative position and subjective well-being

Author

Listed:
  • Daniel Miles

    () (Facultad de Economía, Universidad de Vigo)

  • Máximo Rossi

    () (Departamento de Economía, Facultad de Ciencias Sociales, Universidad de la República)

Abstract

In 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.

Suggested Citation

  • Daniel Miles & Máximo Rossi, 2006. "Learning about one’s relative position and subjective well-being," Documentos de Trabajo (working papers) 0906, Department of Economics - dECON.
  • Handle: RePEc:ude:wpaper:0906
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    File URL: http://cienciassociales.edu.uy/departamentodeeconomia/wp-content/uploads/sites/2/2013/archivos/0906.pdf
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    References listed on IDEAS

    as
    1. Sendhil Mullainathan & Marianne Bertrand, 2001. "Do People Mean What They Say? Implications for Subjective Survey Data," American Economic Review, American Economic Association, vol. 91(2), pages 67-72, May.
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    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. The relative income problem
      by chris in Stumbling and Mumbling on 2015-02-25 19:49:17

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    Cited by:

    1. Fernando Borraz & Susan Pozo & Máximo Rossi, 2008. "And What About the Family Back Home? International Migration and Happiness," Documentos de Trabajo (working papers) 0308, Department of Economics - dECON.
    2. Paul, Satya & Guilbert, Daniel, 2013. "Income–happiness paradox in Australia: Testing the theories of adaptation and social comparison," Economic Modelling, Elsevier, vol. 30(C), pages 900-910.
    3. Ivlevs, Artjoms, 2016. "Happy Hosts? International Tourist Arrivals and Residents' Subjective Well-being in Europe," IZA Discussion Papers 10087, Institute for the Study of Labor (IZA).
    4. repec:spr:jhappi:v:18:y:2017:i:4:d:10.1007_s10902-016-9757-6 is not listed on IDEAS
    5. Jérémy CELSE, 2011. "Damaging the perfect image of athletes: How sport promotes envy," Working Papers 11-16, LAMETA, Universtiy of Montpellier, revised Jun 2011.
    6. Wen-Chun Chang, 2013. "Climbing up the Social Ladders: Identity, Relative Income, and Subjective Well-being," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 113(1), pages 513-535, August.

    More about this item

    Keywords

    relative income; subjective well-being;

    JEL classification:

    • 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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