TY  - RPRT
        AU  - D'Ambrosio, Conchita
AU  - Frick, Joachim R.
        TI  - Individual Well-Being in a Dynamic Perspective
        PY  - 2007/Feb/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 2618
        UR  - https://www.iza.org/publications/dp2618
        AB  - This paper explores the determinants of individual well-being as measured by self-reported levels of satisfaction with income. Making full use of the panel data nature of the German Socio-Economic Panel, we provide empirical evidence for well-being depending on absolute and on relative levels of income in a dynamic framework. This finding holds after controlling for other influential factors in a multivariate setting. The main novelty of the paper is the consideration of dynamic aspects: individual’s own history as well as the relative income performance with respect to the others living in the society under analysis do play a major role in the assessment of well-being.
        KW  - status
KW  - inequality aversion
KW  - interdependent preferences
KW  - subjective well-being
KW  - SOEP
        ER  -