Using panel data from the BHPS and its Understanding Society extension, we study life satisfaction (LS) and income over … from lowest to highest LS, though their average income was always higher. In spite of rapid income growth up to 2008 …/09, the less educated showed no rise in LS, while highly educated LS rose after the crash despite declining real income. In …

Using panel data from the BHPS and its Understanding Society extension, we study life satisfaction (LS) and income over … from lowest to highest LS, though their average income was always higher. In spite of rapid income growth up to 2008 …/09, the less educated showed no rise in LS, while highly educated LS rose after the crash despite declining real income. In …

sensitivity of income estimates used in valuation. We address the endogeneity issue by decomposing wellbeing losses into those … relative who had not had an accident. We use of the Fixed Effects Filtered (FEF) estimator to enable the permanent income … coefficient to be estimated free from individual fixed effects bias. This estimate is used instead of the transient income effect …

In normative public economics it is crucial to know how fast the marginal utility of income declines as income …, using a number of assumptions, we are able to estimate the elasticity of marginal utility with respect to income. We obtain …

Extant research has found that an individual's happiness is relative with respect to income, suggesting that it rises … with own income and falls as the income of a reference group increases. Some recent studies emphasize that the effect of … relative income is mediated by the extent to which people compare themselves with others (hereinafter, “relative consciousness …

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 …

Extant research has found that an individual's happiness is relative with respect to income, suggesting that it rises … with own income and falls as the income of a reference group increases. Some recent studies emphasize that the effect of … relative income is mediated by the extent to which people compare themselves with others (hereinafter, "relative consciousness …

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 …

We develop a theoretical framework that considers four distinct explanatory channels through which neighbors' income … could affect utility: public goods, cost of living, expectations of future income, and the direct effect (relative income … subjective well-being (SWB) data from the U.S. Gallup-Healthways Well-Being Index and geographically-based median-income data …