Relative status and satisfaction

Stefan Boes (), Kevin E. Staub () and Rainer Winkelmann ()
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Kevin E. Staub: Socioeconomic Institute, University of Zurich

No 816, Working Papers from University of Zurich, Socioeconomic Institute

Abstract: This paper investigates the relationship between income satisfaction of adult children and their relative economic status, using data from the German Socio-Economic Panel and income rank as an indicator of status. The results show that children appear to compare their actual economic status with that of their parents, deriving large satisfaction gains from an income rank that is higher than that of their parents. The effect is asymmetric with regard to parents, as these seem not to be ifluenced by their children's income rank.

Keywords: happiness; income norm; subjective well-being (search for similar items in EconPapers)
JEL-codes: D62 I31 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-hap
Date: 2008-12

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Persistent link: http://EconPapers.repec.org/RePEc:soz:wpaper:0816

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