Chapter

The Analysis of Income Satisfaction with an Application to Family Equivalence Scales

Bernard Van Praag

in Happiness Quantified

Published in print December 2007 | ISBN: 9780199226146
Published online May 2008 | e-ISBN: 9780191718595 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780199226146.003.0002
The Analysis of Income Satisfaction with an Application to Family Equivalence Scales

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This chapter focuses on income satisfaction based on empirical results derived from German and British data. Various methods are discussed and compared. These results are used to define family equivalence scales. It is shown that the results derived from the financial-satisfaction question and older results, derived from the Leyden School income-evaluation question developed by Van Praag and Kapteyn in the 1970s, are nearly identical. The preference-drift phenomenon is also discussed.

Keywords: family equivalence scales; financial satisfaction question; income evaluation question; preference-drift phenomenon

Chapter.  14645 words.  Illustrated.

Subjects: Economics

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