Individual Well-Being in a Dynamic Perspective

D’Ambrosio, Conchita () and Joachim R. Frick ()
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D’Ambrosio, Conchita: Università di Milano-Bicocca and DIW Berlin
Authors registered in the RePEc Author Service: Conchita D'Ambrosio ()

No 64, Working Papers from ECINEQ, Society for the Study of Economic Inequality

Abstract: This paper explores the determinants of individual well-being as measured by self-reported levels of satisfaction with income. Making full use of the panel data nature of the German Socio-Economic Panel, we provide empirical evidence for well-being depending on absolute and on relative levels of income in a dynamic framework. This finding holds after controlling for other influential factors in a multivariate setting. The main novelty of the paper is the consideration of dynamic aspects: individual’s own history as well as the relative income performance with respect to the others living in the society under analysis do play a major role in the assessment of well-being.

Keywords: Interdependent Preferences; Inequality Aversion; Status; Subjective Well-Being; SOEP. (search for similar items in EconPapers)
JEL-codes: D63 I31 D31 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cbe, nep-hpe and nep-upt
Date: 2007
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Related works:
Working Paper: Individual Well-Being in a Dynamic Perspective (2007)
Working Paper: Individual Well-Being in a Dynamic Perspective (2007)
Working Paper: Individual Well-Being in a Dynamic Perspective (2007)
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Persistent link: http://EconPapers.repec.org/RePEc:inq:inqwps:ecineq2007-64

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