Individual Well-Being in a Dynamic Perspective

Conchita D'Ambrosio and Joachim Frick

No 2618, IZA Discussion Papers from Institute of Labor Economics (IZA)

Abstract: This paper explores the determinants of individual well-being as measured by self-reported levels of satisfaction with income. Making full use of the panel data nature of the German Socio-Economic Panel, we provide empirical evidence for well-being depending on absolute and on relative levels of income in a dynamic framework. This finding holds after controlling for other influential factors in a multivariate setting. The main novelty of the paper is the consideration of dynamic aspects: individual’s own history as well as the relative income performance with respect to the others living in the society under analysis do play a major role in the assessment of well-being.

Keywords: status; inequality aversion; interdependent preferences; subjective well-being; SOEP (search for similar items in EconPapers)
JEL-codes: D31 D63 I31 (search for similar items in EconPapers)
Pages: 24 pages
Date: 2007-02
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Published - published in: Economica, 2012, 79 (314), 284-302

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Related works:
Journal Article: Individual Wellbeing in a Dynamic Perspective (2012)
Working Paper: Individual Well-Being in a Dynamic Perspective (2007)
Working Paper: Individual Well-Being in a Dynamic Perspective (2007)
Working Paper: Individual Well-Being in a Dynamic Perspective (2007)
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