Arbeitspapier
Hedonic adaptation to living standards and the hidden cost of parental income
High parental income, while undeniably causing benefits for a child in terms of better access to education and more favorable labor market outcomes, may at the same time increase a child's income aspirations and thereby reduce financial satisfaction, ceteris paribus. In this paper, we investigate the relationship between þnancial satisfaction and parental income with data from the German Socio-Economic Panel. The results indicate that there is indeed a negative well-being externality of parental income, and that children appear to compare their actual income situation with the aspiration level acquired while growing up.
- Language
-
Englisch
- Bibliographic citation
-
Series: Working Paper ; No. 0713
- Classification
-
Wirtschaft
Externalities
General Welfare; Well-Being
- Subject
-
welfare
happiness
income norm
subjective well-being
Haushaltseinkommen
Eltern
Lebensqualität
Kinder
Deutschland
- Event
-
Geistige Schöpfung
- (who)
-
Boes, Stefan
Staub, Kevin
Winkelmann, Rainer
- Event
-
Veröffentlichung
- (who)
-
University of Zurich, Socioeconomic Institute
- (where)
-
Zurich
- (when)
-
2007
- Handle
- Last update
-
10.03.2025, 11:42 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Boes, Stefan
- Staub, Kevin
- Winkelmann, Rainer
- University of Zurich, Socioeconomic Institute
Time of origin
- 2007
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