Relative deprivation and individual well-being

Xi Chen

IZA World of Labor, 2015, No 140, 140

Abstract: People who are unable to maintain the same standard of living as others around them experience a sense of relative deprivation that has been shown to reduce feelings of well-being. Relative deprivation reflects conditions of worsening relative poverty despite striking reductions in absolute poverty. The effects of relative deprivation explain why average happiness has been stagnant over time despite sharp rises in income. Consumption taxes on status-seeking spending, along with official and traditional sanctions on excess consumption and redistributive policies may lessen the negative impact of relative deprivation on well-being.

Keywords: relative status; relative poverty; relative deprivation; health; happiness; well-being (search for similar items in EconPapers)
JEL-codes: D62 D63 D78 I14 I32 Z18 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (10)

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