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Absolute vs Relative Income and Life Satisfaction
Jönköping University, Jönköping International Business School, JIBS, Economics. Jönköping University, Jönköping International Business School, JIBS, Centre for Entrepreneurship and Spatial Economics (CEnSE).
Jönköping University, Jönköping International Business School, JIBS, Economics. Jönköping University, Jönköping International Business School, JIBS, Centre of Excellence for Science and Innovation Studies (CESIS).ORCID iD: 0000-0002-4560-1905
2017 (English)Report (Other academic)
Abstract [en]

This paper examines whether subjective life-satisfaction is most strongly related to absolute or relative income in terms of either proximal neighbors or a wider aggregated region. The analysis utilizes two unique datasets - survey data on happiness in combination with finelevel income data for postal codes and municipalities. We find a significant relationship between happiness and both personal income and relative income position among nearby neighbors and more remote neighbors. Hence, being rich as well as being richer than others in the area increases the likelihood of being more satisfied with life. Above all, we find individuals’ level of life-satisfaction to be more strongly related to the income of people in the larger municipality than to the income of nearby neighbors.

Place, publisher, year, edition, pages
Stockholm: Royal Institute of Technology, CESIS , 2017. , p. 28
Series
Working Paper Series in Economics and Institutions of Innovation ; 451
Keywords [en]
Life-satisfaction, Happiness, Subjective well-being, Absolute income, Relative income
National Category
Economics
Identifiers
URN: urn:nbn:se:hj:diva-38239OAI: oai:DiVA.org:hj-38239DiVA, id: diva2:1167587
Available from: 2017-12-19 Created: 2017-12-19 Last updated: 2017-12-19Bibliographically approved

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Rickardsson, JonnaMellander, Charlotta

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CiteExportLink to record
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Citation style
  • apa
  • harvard1
  • ieee
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More styles
Language
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  • en-GB
  • en-US
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Output format
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