Whether relative income or absolute income could affect subjective well-being has been a bone of contention for years. Life satisfaction and the relative frequency of positive and negative emotions are parts of subjective well-being. According to the prospect theory, hedonic adaptation helps to explain why positive emotion is often so hard to be maintained, and negative emotion wouldn't be easy...

AIM To examine the differences in subjective well-being among people with different household income. METHOD Data were obtained from the national survey conducted in June 2005, in which a representative sample of 896 participants were administered a questionnaire on several measures of subjective well-being as follows: happiness, life satisfaction, and satisfaction with different life domains...

This paper attempts to test the morale theory of nominal wage rigidity by identifying the causal effect of pay cuts on workers’ income satisfaction and work morale. This paper uses the current deflationary recession in Japan to estimate this causal effect. Our original survey of Japanese firms and their employees conducted in 2000 revealed that about 17 percent of our sample experienced a nomin...

Before the recent recession evoked general dismay and uncertainty, this study examined the relative contribution of income and the concern over financial security to life satisfaction. The degree to which such concerns permeate people’s daily lives could be part of the broader concept of wealth, often measured through income and debt, and could help evaluate fiscal instruments promoting financi...

introduction: in recent years the development of small cities and including through promoting of villages to city as one of the main policies to improve quality of life in rural areas were considered in iran and according this during recent decades a large number of villages have been changed to city. while urbanization in developing countries have been many problems such as lack of housing and...

Aquaculture has been an important economic sector in Vietnam due to its rapid growth and considerable contribution to national fisheries production. With data collected from a field survey interviewing 120 fish farmers in southern Vietnam, this study uses a cumulative logistic model to extend the satisfaction approach to an analysis of the farmers’ satisfaction with their fish farming. Regressi...

Life Satisfaction We analyze the determinants of global life satisfaction in two countries (The Netherlands and the U.S.), by using both self-reports and responses to a battery of vignette questions. We find global life satisfaction of happiness is well-described by four domains: job or daily activities, social contacts and family, health, and income. Among the four domains, social contacts and...

There is a long tradition of psychologists finding small income effects on life satisfaction (or happiness). Yet the issue of income endogeneity in life satisfaction equations has rarely been addressed. This paper aims to do just that. Instrumenting for income and allowing for unobserved heterogeneity result in an estimated income effect that is almost twice as large as the estimate in the basi...