Happiness adaptation to income and to status in an individual panel:
We study "habituation" to income and to status using individual panel data on the happiness of 7,812 people living in Germany from 1984 to 2000. Specifically, we estimate a "happiness equation" defined over several lags of income and status and compare the long run effects. We ca...
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| Main Authors: | , , |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Cambridge, Mass.
National Bureau of Economic Research
2007
|
| Series: | Working paper series / National Bureau of Economic Research
13159 |
| Online Access: | Volltext |
| Summary: | We study "habituation" to income and to status using individual panel data on the happiness of 7,812 people living in Germany from 1984 to 2000. Specifically, we estimate a "happiness equation" defined over several lags of income and status and compare the long run effects. We can (cannot) reject the hypothesis of no adaptation to income (status) during the four years following an income (status) change. In the short-run (current year) a one standard deviation increase in status and 52% of one standard deviation in income are associated with similar increases in happiness. In the long-run (five year average) a one standard deviation increase in status has a similar effect to an increase of 285% of a standard deviation in income. We also present different estimates of habituation across sub-groups. For example, we find that those on the right (left) of the political spectrum adapt to status (income) but not to income (status). |
| Item Description: | Literaturverz. S. 36 - 38 |
| Physical Description: | 38 S. graph. Darst. 22 cm |
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| 490 | 1 | |a Working paper series / National Bureau of Economic Research |v 13159 | |
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| 520 | 8 | |a We study "habituation" to income and to status using individual panel data on the happiness of 7,812 people living in Germany from 1984 to 2000. Specifically, we estimate a "happiness equation" defined over several lags of income and status and compare the long run effects. We can (cannot) reject the hypothesis of no adaptation to income (status) during the four years following an income (status) change. In the short-run (current year) a one standard deviation increase in status and 52% of one standard deviation in income are associated with similar increases in happiness. In the long-run (five year average) a one standard deviation increase in status has a similar effect to an increase of 285% of a standard deviation in income. We also present different estimates of habituation across sub-groups. For example, we find that those on the right (left) of the political spectrum adapt to status (income) but not to income (status). | |
| 700 | 1 | |a Haisken-DeNew, John P. |d 1965- |e Verfasser |0 (DE-588)124962653 |4 aut | |
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| index_date | 2024-07-02T22:41:31Z |
| indexdate | 2025-02-20T09:01:14Z |
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| spelling | Di Tella, Rafael 1965- Verfasser (DE-588)120891816 aut Happiness adaptation to income and to status in an individual panel Rafael Di Tella ; John Haisken-De New ; Robert MacCulloch Cambridge, Mass. National Bureau of Economic Research 2007 38 S. graph. Darst. 22 cm txt rdacontent n rdamedia nc rdacarrier Working paper series / National Bureau of Economic Research 13159 Literaturverz. S. 36 - 38 We study "habituation" to income and to status using individual panel data on the happiness of 7,812 people living in Germany from 1984 to 2000. Specifically, we estimate a "happiness equation" defined over several lags of income and status and compare the long run effects. We can (cannot) reject the hypothesis of no adaptation to income (status) during the four years following an income (status) change. In the short-run (current year) a one standard deviation increase in status and 52% of one standard deviation in income are associated with similar increases in happiness. In the long-run (five year average) a one standard deviation increase in status has a similar effect to an increase of 285% of a standard deviation in income. We also present different estimates of habituation across sub-groups. For example, we find that those on the right (left) of the political spectrum adapt to status (income) but not to income (status). Haisken-DeNew, John P. 1965- Verfasser (DE-588)124962653 aut MacCulloch, Robert Verfasser (DE-588)120891824 aut Erscheint auch als Online-Ausgabe National Bureau of Economic Research <Cambridge, Mass.> NBER working paper series 13159 (DE-604)BV002801238 13159 http://papers.nber.org/papers/w13159.pdf kostenfrei Volltext |
| spellingShingle | Di Tella, Rafael 1965- Haisken-DeNew, John P. 1965- MacCulloch, Robert Happiness adaptation to income and to status in an individual panel |
| title | Happiness adaptation to income and to status in an individual panel |
| title_auth | Happiness adaptation to income and to status in an individual panel |
| title_exact_search | Happiness adaptation to income and to status in an individual panel |
| title_exact_search_txtP | Happiness adaptation to income and to status in an individual panel |
| title_full | Happiness adaptation to income and to status in an individual panel Rafael Di Tella ; John Haisken-De New ; Robert MacCulloch |
| title_fullStr | Happiness adaptation to income and to status in an individual panel Rafael Di Tella ; John Haisken-De New ; Robert MacCulloch |
| title_full_unstemmed | Happiness adaptation to income and to status in an individual panel Rafael Di Tella ; John Haisken-De New ; Robert MacCulloch |
| title_short | Happiness adaptation to income and to status in an individual panel |
| title_sort | happiness adaptation to income and to status in an individual panel |
| url | http://papers.nber.org/papers/w13159.pdf |
| volume_link | (DE-604)BV002801238 |
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