Learning about one’s relative position and subjective well-being
Daniel Miles and
Maximo Rossi ()
No 906, Documentos de Trabajo (working papers) from Department of Economics - dECON
In this paper we show evidence which suggests that changes in an individual’s relative position affects his subjective well-being. In this sense, our findings are in line with those who argue that a felicity function should take into account both, absolute and relative position. Our result are based on a simple experimental design to discuss whether learning about one’s relative position affects subjective well-being. Additionally, using nonexperimental data we find a significant association between subjective well-being and relative wage.
Keywords: relative income; subjective well-being (search for similar items in EconPapers)
JEL-codes: C91 I31 (search for similar items in EconPapers)
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Journal Article: Learning about one's relative position and subjective well-being (2007)
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Persistent link: http://EconPapers.repec.org/RePEc:ude:wpaper:0906
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