The question of whether there is a connection between income and psychological well-being is a long-studied issue … show that adolescents and young adults who report higher life satisfaction or positive affect grow up to earn significantly … higher levels of income later in life. We focus on earnings approximately one decade after the person's well-being is …

ongoing discussion of the relationship between life satisfaction and income. The panel property of the data makes it possible … to study also the impact on satisfaction from income changes as well as the impact from acceleration in income and … the impact on self-reported satisfaction from a number of economic and demographic variables. The paper contributes to the …

reference group is more important for her life satisfaction than the absolute level of her income. This dependence of life … satisfaction on relative income can be related to the reference dependence of the value function in Kahneman and Tversky's (1979 …, convexity for losses, and loss aversion apply to the dependence of life satisfaction on relative income. This is tested with a …

We develop a theoretical framework that integrates four distinct channels through which others' income can affect … utility: public goods, cost of living, expectations of future income, and direct effects (relative income hypothesis and …-based median-income data for ZIP codes and MSAs. The relationship is proximity-dependent: positive (negative) with ZIP-code (MSA …

income and life satisfaction, and test empirically if the features of the value function of prospect theory carry on to …, at odds with prospect theory, also negative relative income. Loss aversion is only satisfied for incomes that are …Income comparisons are important for individual well-being. We examine the shape of the relationship between relative …

reference group is more important for her life satisfaction than the absolute level of her income. This dependence of life … satisfaction on relative income can be related to the reference dependence of the value function in Kahneman and Tversky’s (1979 …, convexity for losses, and loss aversion apply to the dependence of life satisfaction on relative income. This is tested with a …

examine the impact of the Great Recession on subjective well-being (as measured by life satisfaction) and attempt to identify … disparate effects by age. We find that those approaching retirement age (aged 55 to 64) experienced reduced life-satisfaction … after the recession, whereas younger working-aged adults did not. The disparate effects by age cannot be explained by income …

countries wealth affects life satisfaction more than income. In the countries for which consumption data are available (Britain … with household income. The paper uses household economic panel data from five countries – Australia, Britain, Germany … and Hungary), non-durable consumption expenditures also prove at least as important to happiness as income. Further …

Many scholars have argued that once basic needs have been met, higher income is no longer associated with higher in … well-being, we find no support for this claim. The relationship between well-being and income is roughly linear-log and …