Happiness and loss aversion: when social participation dominates comparison

A central finding in happiness research is that a person's income relative to the average income in her social reference group is more important for her life satisfaction than the absolute level of her income. This dependence of life satisfaction on relative income can be related to the referen...

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Bibliographic details
Volume: 2218
Main Author: Vendrik, Maarten C. M
Woltjer, Geert
Format: Paper
Language: English
Place of publication: Bonn Institute for the Study of Labor (IZA) 2006
published in: IZA Discussion Papers Vol. 2218
Data of publication: 2006
Online Access: Fulltext
Database: EconStor
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