Satisfaction and comparison income

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7595 . SATISFACTION AND COMPARISON INCOME Andrew

This paper is an attempt to test the hypothesis that utility depends on income relative to a 'comparison' or reference level. Using data on 5,000 British workers, it provides two findings. First, workers' reported satisfaction levels are shown to be inversely related to their comparison wage rates. Second, holding income constant, satisfaction levels are shown to be strongly declining in the le...

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ژورنال

عنوان ژورنال: Journal of Public Economics

سال: 1996

ISSN: 0047-2727

DOI: 10.1016/0047-2727(95)01564-7