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Direct evidence on income comparisons and their welfare effects

[Zeitschriftenartikel]

Senik, Claudia

Zitationshinweis

Bitte beziehen Sie sich beim Zitieren dieses Dokumentes immer auf folgenden Persistent Identifier (PID):http://nbn-resolving.de/urn:nbn:de:0168-ssoar-293675

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Abstract This paper provides direct evidence that income comparisons exert a significant impact on subjective well-being. It also evaluates the relative importance of different types of benchmarks. Internal comparisons to one's own past living standard outweigh any other comparison benchmarks. Local comparisons (to one's parents, former colleagues or high-school mates) are more powerful than self-ranking in the social ladder. The impact of comparisons is asymmetric: under-performing one's benchmark always has a greater welfare effect than out-performing it (in absolute value). Comparisons which reduce satisfaction also increase the demand for income redistribution, but there, the relative impact of subjective ranking is preponderant.
Thesaurusschlagwörter transition
Klassifikation Wirtschaftssoziologie; Sozialpsychologie
Freie Schlagwörter C25; D31; D63; I31; J31; O57; P3; Z13; Subjective well-being; Income comparisons; Demand for income redistribution; Internal and external benchmarks
Sprache Dokument Englisch
Publikationsjahr 2009
Seitenangabe 408–424 S.
Zeitschriftentitel Journal of Economic Behavior & Organization, 72 (2009) 1
DOI http://dx.doi.org/10.1016/j.jebo.2009.04.019
Status Postprint; begutachtet (peer reviewed)
Lizenz PEER Licence Agreement (applicable only to documents from PEER project)
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