The relationship between perceived economic standing and happiness

Gudrun Svavarsdottir and Tinna Laufey Asgeirsdottir

Applied Economics Letters, 2023, vol. 30, issue 17, 2413-2419

Abstract: We examine the importance of perception in the relationship between income and happiness. Using Icelandic data, we show that people’s perception of their economic standing is more telling of their happiness than their actual income. We find a stronger association between happiness and a negative perception of one’s economic standing than happiness and a positive perception.

Date: 2023
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DOI: 10.1080/13504851.2022.2097626

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