scholarly journals Easterlin paradox revisited: Do increases in income bring higher levels of income satisfaction?

Sociologija ◽  
2021 ◽  
Vol 63 (2) ◽  
pp. 220-235
Author(s):  
Vladimir Mentus ◽  
Marko Vladisavljevic
Keyword(s):  
Hierarchical Linear Modeling ◽  
Household Income ◽  
Well Being ◽  
Subjective Well Being ◽  
Easterlin Paradox ◽  
Comparison Theory ◽  
Positive Effects ◽  
The Relationship ◽  
Over Time ◽  
Income Satisfaction

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.

scholarly journals Marketing For Life In The Economic Recession Time

2011 ◽  
Vol 10 (4) ◽  
pp. 57
Author(s):  
Orose Leelakulthanit ◽  
Boonchai Hongcharu
Keyword(s):  
Life Satisfaction ◽  
Household Income ◽  
Positive Impact ◽  
Economic Recession ◽  
Well Being ◽  
Subjective Well Being ◽  
Difficult Time ◽  
Domains Of Life ◽  
Economic Goods ◽  
The Relationship

One of the roles marketing contributes to the society is to improve the consumer well-being through the acquisition and possession of economic goods. This study attempts to investigate this role when subjective well-being or life satisfaction is considered in the difficult time of economic recession. From the part-whole perspective, life satisfaction can be broken down into satisfaction with thirteen domains of life. The multiple regression is run in order to determine the relationship between the satisfaction with these thirteen domains of life as well as household income and overall life satisfaction. The results suggest that consumer well-being in terms of satisfaction with material possession has a positive impact on life satisfaction along with satisfaction with work, self, family, personal health and the objective indicator of economic well-being which is household income.

scholarly journals Why Do Advantaged People Feel Unhappy? Effects of Materialistic Values on Subjective Well-Being

2019 ◽  
Vol 5 ◽  
pp. 237802311985391
Author(s):  
Naoki Sudo
Keyword(s):  
Social Mobility ◽  
Social Stratification ◽  
Regression Models ◽  
Social Values ◽  
Well Being ◽  
Finite Mixtures ◽  
Subjective Well Being ◽  
Easterlin Paradox ◽  
Materialistic Values ◽  
The Relationship

This article aims to explore the relationship between income and happiness. As shown by the Easterlin paradox, the relationship between income and happiness is not simple but indeed is rather complicated. The author used finite mixtures of regression models to analyze the data from the National Survey of Social Stratification and Social Mobility conducted in Japan and implemented computer simulations based on the results of the finite mixtures of regression models to examine how changes in social values influence the relationship between income and happiness. Analytical results revealed that people can be categorized into two latent classes: one dominated by materialistic values and the other eschewing materialistic values. Moreover, they clarified that materialistic values have ambivalent influences on individual happiness and average happiness in society. It is concluded that the diffusion of materialistic values might cause paradoxical relationships between income and happiness.

scholarly journals LIFE AFTER 100: IS GOD THE SECRET TO A SATISFYING AND PURPOSEFUL LIFE?

2019 ◽  
Vol 3 (Supplement_1) ◽  
pp. S524-S525
Author(s):  
Nadia Firdauysa ◽  
Jyoti Bhatta ◽  
Alex J Bishop ◽  
Tanya Finchum ◽  
James Grice
Keyword(s):  
Life Satisfaction ◽  
Purpose In Life ◽  
Well Being ◽  
Subjective Well Being ◽  
Analysis Method ◽  
Ordinal Analysis ◽  
C Value ◽  
The Relationship ◽  
Over Time

Abstract Data from N = 111 centenarians (M = 100.88; SD = 1.48) residing in Oklahoma was used to examine patterns in the relationship between the God oriented vs. non-God oriented longevity secrets and subjective well-being. Observational Oriented Modeling (OOM) was then used to conduct an ordinal analysis using concatenated ordering to produce degree of fitness between data and underlying patterns in life satisfaction and purpose-in-life across three time points. OOM is a data analysis method used to evaluate fitness of proposed patterns to data called PCC. Results indicated that centenarians maintaining a God-oriented longevity secret fit a decreased pattern in life satisfaction (PCC = 25.00, c-value = .09); whereas centenarians not maintaining a God-oriented longevity secret fit the same pattern (PCC = 49.18, c-value = .06). Meanwhile, centenarians having a God-oriented longevity secret fit a decreased pattern of purpose-in-life (PCC = 71.43, c-value =.12); whereas centenarians having a non-God oriented longevity secret fit the same pattern (PCC = 53.45, c-value = .28). In comparison to centenarians who acknowledged something other than God as the secret to their longevity, those who cite God as the reason for longevity tend to proportionately maintain a more satisfying view of life, yet experience a deteriorating sense of purpose over time. Results indicate that longevity secrets reflect divergent patterns in subjective well-being among persons living beyond 100 years. This has implications relative to how geriatric practitioners design interventions, services, or programs to enhance quality-of-life for long-lived adults.

scholarly journals Social capital, economic growth and well-being

2012 ◽  
Author(s):  
Francesco Sarracino
Keyword(s):  
Economic Growth ◽  
Social Capital ◽  
Social Comparisons ◽  
Well Being ◽  
Subjective Well Being ◽  
Long Run ◽  
The Social ◽  
The Relationship ◽  
Over Time

In the long run economic growth does not improve people's well-being. Traditional theories – adaptation and social comparisons – explain this evidence, but they don't explain what shapes the trend of subjective well-being and its differences across countries. Recent research identified in social capital a plausible candidate to explain the trends of well-being. This dissertation adopts various econometric techniques to explore the relationship over time among social capital, economic growth and subjective well-being. The main conclusion is that social capital is a good predictor of the trend of subjective well-being, both within and across countries. Hence, policies for well-being should aim at preserving and enhancing social capital for the quality of the social environment matters.

scholarly journals Adaptation and Loss Aversion in the Relationship Between GDP and Subjective Well-Being

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Matti Hovi ◽  
Jani-Petri Laamanen
Keyword(s):  
Economic Growth ◽  
Loss Aversion ◽  
National Income ◽  
Well Being ◽  
Macro Level ◽  
Subjective Well Being ◽  
Long Run ◽  
Short Run ◽  
The Relationship ◽  
Over Time

Abstract We examine the roles of macro-level adaptation — including social comparison effects becoming more important over time — and macroeconomic loss aversion in the time-series relationship between national income and subjective well-being. Models allowing for these phenomena are applied to cross-country panel data. We find evidence for macroeconomic loss aversion that becomes more important over time: the effects of economic growth become small and statistically insignificant in the long run, whereas the effects of contractions are large and long-lasting. The results are consistent with the Easterlin paradox and point to it being explained by macro-level adaptation to economic growth. Our results highlight the importance of allowing for both dynamics to distinguish long-run from short-run effects and asymmetries to recognize the important effects of contractions. Failing to do the former leads to a misleading impression of the long-run relationship between economic growth and well-being.

scholarly journals A first glance into the black box of life satisfaction surrounding childbearing

2021 ◽  
Author(s):  
Arnstein Aassve ◽  
Francesca Luppi ◽  
Letizia Mencarini
Keyword(s):  
Life Satisfaction ◽  
Household Income ◽  
Well Being ◽  
Black Box ◽  
General Level ◽  
Subjective Well Being ◽  
Panel Survey ◽  
Underlying Mechanisms ◽  
The Relationship ◽  
Overall Life Satisfaction

AbstractThe vast majority of studies looking into the relationship between childbearing and subjective well-being use overall measures where respondents either report their general level of happiness or their life satisfaction, leaving substantial doubt about the underlying mechanisms. However, life satisfaction and happiness are intuitively multidimensional concepts, simply because there cannot be only one aspect that affects individuals' well-being. In this study, by considering seventeen specific life satisfaction domains, these features come out very clearly. Whereas all the domains considered matter for the overall life satisfaction, only three of them, namely satisfaction with leisure, health and satisfaction with the partnership, change dramatically surrounding childbearing events. Even though we cannot generalise (since these results stem from one particular panel survey, i.e., Household Income and Labour Dynamics in Australia data), it appears that the typical anticipation and post-child decrease of life satisfaction, so often found in existing studies, stems from changes in these three domains.

scholarly journals Changes in Subjective Well-Being Over Time: Economic and Social Resources do Matter

2021 ◽  
Author(s):  
A. l. Moro-Egido ◽  
M. Navarro ◽  
A. Sánchez
Keyword(s):  
Household Income ◽  
Well Being ◽  
Social Resources ◽  
Cultural Dimensions ◽  
Economic Resources ◽  
Subjective Well Being ◽  
Short Term ◽  
Main Determinants ◽  
Over Time

AbstractThis article analyzes the main determinants of changes in subjective well-being over time in Germany distinguishing between long-term and short-term changes. Our findings for the long term indicate that social capital and values and cultural dimensions have the greatest capacity to predict changes in subjective well-being. Likewise, the correlation between economic resources and subjective well-being is weaker due to the small increase registered in household income and because people compare their income with those who are better off and feel envy. In the short term, economic resources have the highest capacity to predict both improvements (ups) and declines (downs) in subjective well-being. Finally, we also suggest that, whenever information is available, personality traits should be taken into account in the analysis of changes in subjective well-being over time in order to achieve more reliable estimates.

scholarly journals Sense of Presence and Subjective Well-Being in Online Pet Watching: The Moderation Role of Loneliness and Perceived Stress

2020 ◽  
Vol 17 (23) ◽  
pp. 9093
Author(s):  
Zekun Zhou ◽  
Duo Yin ◽  
Quan Gao
Keyword(s):  
Perceived Stress ◽  
Social Presence ◽  
Well Being ◽  
Moderating Effect ◽  
Flow Experience ◽  
Subjective Well Being ◽  
Positive Effects ◽  
The Social ◽  
The Relationship

Watching videos/livestreams concerning pets is becoming an increasingly popular phenomenon among youth in China, thus the social dynamics and psychological impacts of this pet-centred online activities worth in-depth exploration. This study investigates the sensual experiences of the audiences who have watched pet videos/livestreams and examines how these online experiences influence their subjective well-being. We develop a conceptual model that bases on the relationships between telepresence, social presence, flow experience, and subjective well-being to comprehend this mechanism. The result of 439 samples indicates that both telepresence and social presence have significant positive effects on flow experience, and social presence also has a positive impact on subjective well-being. We also examine the role of loneliness and perceived stress in moderating the effects of online pet watching on subjective well-being, showing that loneliness has a significant positive moderating effect on the relationship between social presence and flow experience, while perceived pressure has a negative moderating effect on the relationship between telepresence and flow experience. This study not only demonstrates the positive effect of an online pet on subjective well-being and but also uses interview data to comprehend the social processes underlying this effect. We also discuss the theoretical and practical values of this study in improving public health in the digital age.

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