Positional income concerns: Prevalence and relationship with personality and economic preferences

Arbeitspapier

This paper presents detailed evidence about who compares to whom in terms of relative income. We rely on representative survey data on the importance of income comparisons vis-á-vis seven reference groups, allowing us to exploit within-subject heterogeneity. We explore the prevalence and determinants of positional income concerns, investigating the role of personality and economic preferences. Our results establish robust relationships between positional income concerns and the personality traits agreeableness, conscientiousness, and neuroticism, some of which depend on the reference group. Furthermore, risk and fairness preferences are significantly correlated with positional income concerns.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: IAAEU Discussion Paper Series in Economics ; No. 11/2014

Classification and Topics

• Classification: Wirtschaft ; Consumer Economics: Empirical Analysis ; Equity, Justice, Inequality, and Other Normative Criteria and Measurement
• Subject: relative income ; status ; personality ; Big Five ; survey ; SOEP ; economic preferences ; risk ; fairness

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Friehe, Tim ; Mechtel, Mario ; Pannenberg, Markus
• Event: Veröffentlichung
• (who): University of Trier, Institute for Labour Law and Industrial Relations in the European Union (IAAEU)
• (where): Trier
• (when): 2014

Further information

• Handle: http://hdl.handle.net/10419/104772
• Last update: 10.03.2025, 11:41 AM CET