Reference group income and subjective well-being: empirical evidence from low-income transition economies

Antinyan, Armenak ORCID: https://orcid.org/0000-0001-9960-3618 2016. Reference group income and subjective well-being: empirical evidence from low-income transition economies. Social Indicators Research 127 (3) , 1333–1348. 10.1007/s11205-015-0997-3

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Abstract

This paper aims at studying the connection between reference group income and life satisfaction in the three republics of the South Caucasus: Armenia, Azerbaijan, and Georgia. I illustrate that in low-income transition economies individuals make not only upward comparisons, decreasing their subjective well-being if the reference group members are richer than they are, but also downward comparisons, enhancing their subjective well-being if the reference group members are poorer. This result contradicts Duesenberry’s idea that comparisons are mostly upward.

Item Type:	Article
Date Type:	Publication
Status:	Published
Schools:	Schools > Business (Including Economics)
Publisher:	Springer Verlag (Germany)
ISSN:	0303-8300
Date of Acceptance:	29 May 2015
Last Modified:	06 Jan 2024 02:15
URI:	https://orca.cardiff.ac.uk/id/eprint/146931

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