This paper challenges the common assumption made by economists to date that income comparisons are similarly important in different segments of the subjective well-being (SWB) distribution. The results, based on the 2000-2007 waves of the German SOEP and on a Generalized Ordered Probit for panel data, show that relative income, as measured either by the mean income of the reference group or the individual ...
Bonn:
Institute for the Study of Labor (IZA),
2012,
(IZA DP No. 6591)
| Santiago Budria