The Local-Ladder Effect

@article{Anderson2012TheLE,
  title={The Local-Ladder Effect},
  author={Cameron Anderson and Michael W. Kraus and Adam D. Galinsky and Dacher Keltner},
  journal={Psychological Science},
  year={2012},
  volume={23},
  pages={764 - 771}
}
Dozens of studies in different nations have revealed that socioeconomic status only weakly predicts an individual’s subjective well-being (SWB). These results imply that although the pursuit of social status is a fundamental human motivation, achieving high status has little impact on one’s SWB. However, we propose that sociometric status—the respect and admiration one has in face-to-face groups (e.g., among friends or coworkers)—has a stronger effect on SWB than does socioeconomic status… 

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