Easterlin paradox revisited
Do increases in income bring higher levels of income satisfaction
Bibliographic Data
| ID | 20318052 |
|---|---|
| Authors | Vladimir Mentus (0000-0002-9057-3659, Institute of Social Sciences, Belgrade, Serbia), Marko Vladisavljević (0000-0001-6020-1355, Institute of Economic Sciences, Belgrade, Serbia) |
| Year | 2021 |
| Volume | 63 |
| Issue | 2 |
| Pages | 220-235 |
| Publication date | 2021-01-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Sociologija (JOURNAL) |
| Journal identifiers | ISSN: 0038-0318 • E-ISSN: 2406-0712 |
| Publisher | National Library of Serbia (PUBLISHER • RS) |
| DOI | 10.2298/soc2102220m |
| OpenAlex | W3183980218 |
| Language | EN |
| Citations received | 1 |
| References cited | 23 |
In this paper, we examine the relationship between income and income satisfaction in the pool of developed European economies, for the period between 2002 and 2018. Although the nexus between income and most subjective well-being indicators is frequently investigated in prior studies, the research investigating the relationship between income and income satisfaction over time is non-existing. We find that during the observed period real disposable household income significantly increased, while the satisfaction with household income remained constant. Furthermore, the analysis within hierarchical linear modeling shows that while between-country variations in income affect income satisfaction, this is not the case for income variations over time. Our findings support the notion of the Easterlin paradox, which indicates that in the long-run increases in income do not lead to higher levels of well-being. Explanations for such results may be found in the social comparison theory, hedonic adaptation theory and aspiration level theory: increasing income does not bring positive effects on income satisfaction due to relevance of the relative and not the absolute income, adaptation to income changes, or higher levels of aspirations resulting from income rise
Adjusted gross income · Affect (linguistics) · Comprehensive income · Demographic economics · Distribution (mathematics) · Economics · Geography · Gross income · Household income · Income distribution · Income in kind · Inequality · Labour economics · Nexus (standard) · Passive income · Public economics · State income tax · Health disparities and outcomes · Mathematics · Psychological Well-being and Life Satisfaction · Psychology
Income, saving, and the theory of consumer behavior
The role of income aspirations in individual happiness
Inequality at Work
Personal Income and Subjective Well-being
Happiness adaptation to income and to status in an individual panel
Economic Growth and Subjective Well-Being
Sour grapes – utilitarianism and the genesis of wants
Money and Happiness
Development as Capability Expansion
Does Economic Growth Improve the Human Lot? Some Empirical Evidence
Subjective Well-Being in The European Union During the 90s
The Structure of Subjective Well-Being and Its Relation to Objective Well-Being Indicators
Subjective economic well-being in Eastern Europe
Beyond the hedonic treadmill
Subjective Well-Being in the European Union during the 90ies
A Theory of Social Comparison Processes
What matters to the rich and the poor? Subjective well-being, financial satisfaction, and postmaterialist needs across the world
Lottery winners and accident victims
Rising income and the subjective well-being of nations
Zooming in on Life Events
Financial Satisfaction and (in)formal Sector in a Transition Country
Acting for Happiness
Building Financial Satisfaction
| Unique citing works | 1 |
|---|---|
| Citations per year | 0,33 |
| Citation span | 2023 - 2023 (1) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 1 |