Social Sciences
4 years ago

Welfare paradox: Individual income satisfaction contradicts overall well-being in income distributions.

Relative Deprivation, Personal Income Satisfaction, and Average Well-Being under Different Income Distributions
Christian Seidl, Stefan Traub, Andrea Morone

Paper Summary

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The article explores how different income distributions affect people's satisfaction and overall well-being. By studying five shapes of income distributions, the researchers found that background context influences how people feel about their income compared to others. They also discovered a contradiction between individual income satisfaction and overall well-being. The study shows that not all aspects of range-frequency theory hold true, and that income categorization and limen setting do not affect responses but do show conformity.