Effects of Objective and Subjective Income Comparisons on Subjective Wellbeing

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dc.creatorHodkinson, Brennan
dc.creatorVisser, Martine
dc.date2013-11-28T20:07:42Z
dc.date2013-11-28T20:07:42Z
dc.date2013-11
dc.date.accessioned2015-05-28T10:06:30Z
dc.date.available2015-05-28T10:06:30Z
dc.date.issued2015-05-28
dc.descriptionWe present results from the Cape Area Panel Study dataset investigating how social comparisons with regard to income affect subjective wellbeing of both young adults and parents. Objective and subjective measures of relative income are used, assessing how individuals compare themselves to others and to themselves over time. Strong evidence is found to suggest that social comparisons affect subjective wellbeing, both relative to neighbours and relative to oneself in the past. Objective measures of wellbeing also influence happiness, but this is more prevalent in interpersonal than inter-temporal comparisons. It is possible that some adaptation does occur within individuals over time.
dc.descriptionJEL Classification: DO1, D31, D60, H00, I31
dc.descriptionBrennan Hodkinson is a Environmental–Economics Policy Research Unit (EPRU) Research Associate Financial support from the Swedish International Development Cooperation Agency (Sida), through the Environment for Development (EfD) initiative, is gratefully acknowledged. Martine Visser is Associate Professor within School of Economics at the University of Cape Town. She is on the Executive Committees of the Environmental–Economics Policy Research Unit (EPRU) and the Research Unit for Behavioral Economics and Neuroeconomics (RUBEN) and a research associate of the South African Labour and Development Research Unit (SALDRU). She is also on the Steering Committee for the African Climate Development Initiative (ACDI).
dc.identifier978-1-920517-59-5
dc.identifierhttp://hdl.handle.net/11090/682
dc.identifier.ris TY - Working Paper DA - 2015-05-28 DB - OpenUCT DP - University of Cape Town KW - Subjective Wellbeing KW - Happiness KW - Relative Income KW - Social Comparisons KW - Habituation LK - https://open.uct.ac.za PB - University of Cape Town PY - 2015 T1 - Effects of Objective and Subjective Income Comparisons on Subjective Wellbeing TI - Effects of Objective and Subjective Income Comparisons on Subjective Wellbeing UR - http://hdl.handle.net/11090/682 ER - en_ZA
dc.identifier.urihttp://hdl.handle.net/11090/682
dc.languageen
dc.publisherSouthern Africa Labour and Development Research Unit
dc.publisher.departmentSALDRUen_ZA
dc.publisher.facultyFaculty of Commerceen_ZA
dc.publisher.institutionUniversity of Cape Town
dc.relationSALDRU Working Papers;118
dc.subjectSubjective Wellbeing
dc.subjectHappiness
dc.subjectRelative Income
dc.subjectSocial Comparisons
dc.subjectHabituation
dc.titleEffects of Objective and Subjective Income Comparisons on Subjective Wellbeing
dc.typeWorking Paper
uct.type.publicationResearchen_ZA
uct.type.resourceWorking Paperen_ZA
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