Happiness, Habits and High Rank: Comparisons in Economic and Social Life

42 Pages Posted: 18 Sep 2011

See all articles by Andrew Clark

Andrew Clark

Paris School of Economics (PSE); IZA Institute of Labor Economics

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Abstract

The role of money in producing sustained subjective well-being seems to be seriously compromised by social comparisons and habituation. But does that necessarily mean that we would be better off doing something else instead? This paper suggests that the phenomena of comparison and habituation are actually found in a considerable variety of economic and social activities, rendering conclusions regarding well-being policy less straightforward.

Keywords: comparison, habituation, income, unemployment, marriage, divorce, health, religion, policy

JEL Classification: D01, D31, H00, I31, J12, J28

Suggested Citation

Clark, Andrew Eric, Happiness, Habits and High Rank: Comparisons in Economic and Social Life. IZA Discussion Paper No. 5966. Available at SSRN: https://ssrn.com/abstract=1929666

Andrew Eric Clark (Contact Author)

Paris School of Economics (PSE) ( email )

48 Boulevard Jourdan
Paris, 75014 75014
France

IZA Institute of Labor Economics

P.O. Box 7240
Bonn, D-53072
Germany

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