Abstract
Explored the relation between income and happiness at an individual level within a county in the Netherlands. This paper further adds to the existing literature by combining the economic interpretation of the income effect on life-satisfaction with the social-psychological interpretation of adaptation. An empirical model is presented that accounts for adaptation behavior in self-reports on life-satisfaction. The model is used to determine preference driftadaptation to income levelsin life-satisfaction. With preference drift, the effect of income on life-satisfaction varies with the level of life-satisfaction. It is found that preference drift mainly occurs among individuals with a high level of life-satisfaction. (PsycINFO Database Record (c) 2012 APA, all rights reserved)
| Original language | English |
|---|---|
| Pages (from-to) | 315-328 |
| Number of pages | 14 |
| Journal | Social Indicators Research |
| Volume | 50 |
| Issue number | 3 |
| DOIs | |
| Publication status | Published - 2000 |
Keywords
- Adaptation
- Income
- Life-satisfaction
- Preference drift
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