The Economics of Happiness: Exploring the Complex Relationship Between Income and Subjective Well-Being
| dc.contributor.advisor | Visser, Martine | |
| dc.contributor.author | Hudson-Reed, Jessica Erin | |
| dc.date.accessioned | 2019-02-22T10:57:18Z | |
| dc.date.available | 2019-02-22T10:57:18Z | |
| dc.date.issued | 2018 | |
| dc.date.updated | 2019-02-21T11:47:53Z | |
| dc.description.abstract | Over the past decade, economists and policy makers have become increasingly interested in the relationship between income, economic growth and happiness. Drawing on the existing literature and empirical evidence, this research seeks to contribute to a better understanding of the complex relationship between income and subjective well-being. This research uncovers a paradoxical relationship between income and subjective well-being. Specifically, at a point in time, both within and across nations, happiness varies directly with income, but over time, happiness does not increase when a country’s income increases. This paradoxical relationship can be attributed to 'internal’ and 'external’ income comparisons and the effects these comparisons have on material aspirations and satisfaction judgements. As such, this research finds that relative income, in addition to one’s own absolute income, is an important determinant of individual subjective well-being. Moreover, this research provides evidence of a possible causal relationship between income, relative income and subjective well-being. Overall, this research makes a valuable contribution to the literature by bringing together a diverse range of empirical evidence and theoretical arguments to form a holistic and indepth understanding of the complex relationships and processes at work. | |
| dc.identifier.apacitation | Hudson-Reed, J. E. (2018). <i>The Economics of Happiness: Exploring the Complex Relationship Between Income and Subjective Well-Being</i>. (). University of Cape Town ,Faculty of Commerce ,School of Economics. Retrieved from http://hdl.handle.net/11427/29744 | en_ZA |
| dc.identifier.chicagocitation | Hudson-Reed, Jessica Erin. <i>"The Economics of Happiness: Exploring the Complex Relationship Between Income and Subjective Well-Being."</i> ., University of Cape Town ,Faculty of Commerce ,School of Economics, 2018. http://hdl.handle.net/11427/29744 | en_ZA |
| dc.identifier.citation | Hudson-Reed, J. 2018. The Economics of Happiness: Exploring the Complex Relationship Between Income and Subjective Well-Being. University of Cape Town. | en_ZA |
| dc.identifier.ris | TY - Thesis / Dissertation AU - Hudson-Reed, Jessica Erin AB - Over the past decade, economists and policy makers have become increasingly interested in the relationship between income, economic growth and happiness. Drawing on the existing literature and empirical evidence, this research seeks to contribute to a better understanding of the complex relationship between income and subjective well-being. This research uncovers a paradoxical relationship between income and subjective well-being. Specifically, at a point in time, both within and across nations, happiness varies directly with income, but over time, happiness does not increase when a country’s income increases. This paradoxical relationship can be attributed to 'internal’ and 'external’ income comparisons and the effects these comparisons have on material aspirations and satisfaction judgements. As such, this research finds that relative income, in addition to one’s own absolute income, is an important determinant of individual subjective well-being. Moreover, this research provides evidence of a possible causal relationship between income, relative income and subjective well-being. Overall, this research makes a valuable contribution to the literature by bringing together a diverse range of empirical evidence and theoretical arguments to form a holistic and indepth understanding of the complex relationships and processes at work. DA - 2018 DB - OpenUCT DP - University of Cape Town LK - https://open.uct.ac.za PB - University of Cape Town PY - 2018 T1 - The Economics of Happiness: Exploring the Complex Relationship Between Income and Subjective Well-Being TI - The Economics of Happiness: Exploring the Complex Relationship Between Income and Subjective Well-Being UR - http://hdl.handle.net/11427/29744 ER - | en_ZA |
| dc.identifier.uri | http://hdl.handle.net/11427/29744 | |
| dc.identifier.vancouvercitation | Hudson-Reed JE. The Economics of Happiness: Exploring the Complex Relationship Between Income and Subjective Well-Being. []. University of Cape Town ,Faculty of Commerce ,School of Economics, 2018 [cited yyyy month dd]. Available from: http://hdl.handle.net/11427/29744 | en_ZA |
| dc.language.iso | eng | |
| dc.publisher.department | School of Economics | |
| dc.publisher.faculty | Faculty of Commerce | |
| dc.publisher.institution | University of Cape Town | |
| dc.subject.other | Economics | |
| dc.title | The Economics of Happiness: Exploring the Complex Relationship Between Income and Subjective Well-Being | |
| dc.type | Master Thesis | |
| dc.type.qualificationlevel | Masters | |
| dc.type.qualificationname | MCom |