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Top incomes and subjective well-being

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  • Michal Brzezinski

    (Faculty of Economic Sciences, University of Warsaw)

Abstract

We use data from the World Wealth & Income Database, the European Values Surveys and World Values Surveys to estimate the relationship between top income shares and subjective well-being in a sample of 35 countries observed between 1980s and 2010s (139 surveys and more than 200,000 respondents). Results show that top 1% income shares are positively associated with happiness, but not with life satisfaction. The effect is present in a subsample of Western countries. We discuss possible explanations for the positive association between top income shares and happiness.

Suggested Citation

  • Michal Brzezinski, 2018. "Top incomes and subjective well-being," Working Papers 2018-15, Faculty of Economic Sciences, University of Warsaw.
    • Handle: RePEc:war:wpaper:2018-15
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    File URL: https://www.wne.uw.edu.pl/index.php/download_file/4498/
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    References listed on IDEAS

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    Cited by:

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    4. Yi-Bin Chiu & Zhen Wang & Xu Ye, 2023. "Household gift-giving consumption and subjective well-being: evidence from rural China," Review of Economics of the Household, Springer, vol. 21(4), pages 1453-1472, December.

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    More about this item

    Keywords

    top incomes; subjective well-being; life satisfaction; happiness; income inequality; World Wealth & Income Database;
    All these keywords.

    JEL classification:

    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being

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