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When experienced and decision utility concur: The case of income comparisons

Andrew Clark (), Claudia Senik and Katsunori Yamada ()
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Claudia Senik: PSE - Paris School of Economics, PJSE - Paris Jourdan Sciences Economiques - UP1 - Université Panthéon-Sorbonne - ENS Paris - École normale supérieure - Paris - INRA - Institut National de la Recherche Agronomique - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique, UP4 - Université Paris-Sorbonne

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Abstract: While there is now something of a consensus in the economics of happiness literature that income comparisons to others help determine subjective well-being, debate continues over the relative importance of own and reference-group income, in particular in research on the Easterlin paradox. The variety of results in this domain have produced some scepticism regarding happiness analysis, and in particular with respect to the measurement of reference-group income. We here use data from an original Internet survey in Japan to compare the relative-income results from happiness regressions to those from hypothetical-choice experiments. This kind of validation of experienced utility via direct comparison with decision utility remains rare in this literature.

Keywords: Satisfaction; Income comparisons; Reference-group income; Discrete-choice experiments (search for similar items in EconPapers)
Date: 2017-10
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Published in Journal of Behavioral and Experimental Economics, 2017, 70, pp.1-9. 〈10.1016/j.socec.2017.07.002〉

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Journal Article: When experienced and decision utility concur: The case of income comparisons (2017) Downloads
Working Paper: When Experienced and Decision Utility Concur: The Case of Income Comparisons (2015) Downloads
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DOI: 10.1016/j.socec.2017.07.002

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