Abstract A central finding in happiness research is that a person's life satisfaction depends on the level of her income relative to the average income in her social reference group. This dependence of life satisfaction on relative income can be related to the reference dependence of the value function in Kahneman and Tversky's [Kahneman, D., Tversky, A., 1979. Prospect theory: an analysis of decision under risk. Econometrica 47, 263¿291] prospect theory. In this paper we investigate whether the characteristics of the value function like concavity for gains, convexity for losses, and loss aversion apply to the dependence of life satisfaction on relative income. This is tested with an improved measure for the reference income for a large Ger...
The well-known Easterlin paradox points out that average happiness has remained constant over time d...
peer reviewedWe examine the complex relationship between money and happiness. We find that both perm...
The well-known Easterlin paradox points out that average happiness has remained constant over time d...
A central finding in happiness research is that a person's life satisfaction depends on the level of...
Abstract A central finding in happiness research is that a person's life satisfaction depends on the...
A central finding in happiness research is that a person's life satisfaction depends on the level of...
A central finding in happiness research is that a person's life satisfaction depends on the level of...
A central finding in happiness research is that a person's life satisfaction depends on the level of...
A central finding in happiness research is that a person’s income relative to the average income in ...
Income comparisons are important for individual well-being. We examine the shape of the relationship...
Altres ajuts: acord transformatiu CRUE-CSICWe are very grateful to Maarten Vendrik, who provided ext...
Loss aversion is considered a general pervasive bias occurring regardless of the context or the pers...
This paper conducts an empirical analysis of the distributional effects of the determinants of happi...
This paper examines whether subjective life-satisfaction is most strongly related to absolute or rel...
We examine the complex relationship between money and happiness. We find that both permanent income ...
The well-known Easterlin paradox points out that average happiness has remained constant over time d...
peer reviewedWe examine the complex relationship between money and happiness. We find that both perm...
The well-known Easterlin paradox points out that average happiness has remained constant over time d...
A central finding in happiness research is that a person's life satisfaction depends on the level of...
Abstract A central finding in happiness research is that a person's life satisfaction depends on the...
A central finding in happiness research is that a person's life satisfaction depends on the level of...
A central finding in happiness research is that a person's life satisfaction depends on the level of...
A central finding in happiness research is that a person's life satisfaction depends on the level of...
A central finding in happiness research is that a person’s income relative to the average income in ...
Income comparisons are important for individual well-being. We examine the shape of the relationship...
Altres ajuts: acord transformatiu CRUE-CSICWe are very grateful to Maarten Vendrik, who provided ext...
Loss aversion is considered a general pervasive bias occurring regardless of the context or the pers...
This paper conducts an empirical analysis of the distributional effects of the determinants of happi...
This paper examines whether subjective life-satisfaction is most strongly related to absolute or rel...
We examine the complex relationship between money and happiness. We find that both permanent income ...
The well-known Easterlin paradox points out that average happiness has remained constant over time d...
peer reviewedWe examine the complex relationship between money and happiness. We find that both perm...
The well-known Easterlin paradox points out that average happiness has remained constant over time d...