Relative income , happiness and utility : an explanation for the Easterlin paradox and other puzzles

@inproceedings{Clark2007RelativeI,
  title={Relative income , happiness and utility : an explanation for the Easterlin paradox and other puzzles},
  author={Andrew E. Clark and Paul Frijters and Michael Shields},
  year={2007}
}
Relative Income, Happiness and Utility: An Explanation for the Easterlin Paradox and Other Puzzles The well-known Easterlin paradox points out that average happiness has remained constant over time despite sharp rises in GNP per head. At the same time, a micro literature has typically found positive correlations between individual income and individual measures of subjective well-being. This paper suggests that these two findings are consistent with the presence of relative income terms in the… CONTINUE READING
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