Lebenszufriedenheit und Einkommensreichtum: Eine empirische Analyse mit dem SOEP (Life Satisfaction and Income Richness: An Empirical Analysis Based on Data of the German Socioeconomic Panel - SOEP)

Abstract

In this study the relation between satisfaction with life and affluent income is analyzed by using cross-sectional and longitudinal data. The data used in this publication were made available by the German Socio Economic Panel Study (SOEP) at the German Institute for Economic Research (DIW Berlin), Berlin. A period from 2002-2008 is examined. The focus lies on the effects social treadmill has on life satisfaction for humans with high income. A key result of the fixed-effect-regression is the following: There is a significant effect relative income has on the contentment with life for affluent people, whereas considerable gender-specific discrepancies can be observed.

Note: Downloadable document is in German.

Keywords: life satisfaction, income richness, social treadmill, income comparison, reference group, SOEP, fixed-effects

JEL Classification: D31, I31