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Absolute income, comparison income and subjective well-being in a transitional country: Panel evidence from Vietnamese household surveys
Economic Analysis and Policy Số , năm 2021 (Tập 72, trang 368-385)
ISSN: 3135926
ISSN: 3135926
DOI: 10.1016/j.eap.2021.09.008
Tài liệu thuộc danh mục:
Article
English
Tóm tắt tiếng anh
Vietnam. Taking advantage of panel data, we use a fixed-effects regression approach to control for individual unobservable heterogeneity. The approach taken in this paper divides subgroups according to relative income instead of absolute income. This analysis allows the elimination of opposing relations to see the same direction effect of social comparison income on individuals’ happiness The results reveal that individuals compare themselves to more than one reference group, and compare themselves both with those better off and those worse off. Nevertheless statistically significant results only attain when one outweighs the other or when they both look downward or upward in their comparison. Interestingly, the outcome turns from asymmetry to near symmetry when the reference group's interaction effects change from opposed to the same. © 2021 Economic Society of Australia, Queensland