This paper examines whether biased income expectations due to overconfidence lead to higher levels of debt-taking. In a … lab experiment, participants can purchase goods by borrowing against their future income. We exogenously manipulate income … expectations by letting income depend on relative performance in hard and easy quiz tasks. We successfully generate biased income …

Courts typically base compensation for loss of income in personal injury cases on either mean or median work income …. Yet, quantatively, mean and median incomes are typically very different. For example, in the US median income is 65 … percent of mean income. In this paper we use economic theory to determine the relation between the appropriate make …

There is much evidence that relative income concern reduces subjective wellbeing and raises labour supply - "keeping up …