Article ID Journal Published Year Pages File Type
5054774 Economic Modelling 2013 11 Pages PDF
Abstract
► This paper explains the observed happiness paradox in Australia. ► Social comparison theory is identified as the key explanation for happiness paradox. ► The peer group income has a negative effect on the happiness of individuals. ► The increase in peer group income hurts the poor more than rich. ► The results provide no support to the hypothesis of adaptation.
Keywords
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
Preview
Income-happiness paradox in Australia: Testing the theories of adaptation and social comparison
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