The relationship between perceived economic standing and happiness

Gudrun Svavarsdottir; Tinna Laufey Asgeirsdottir

doi:10.1080/13504851.2022.2097626

The relationship between perceived economic standing and happiness

Gudrun Svavarsdottir^*, Tinna Laufey Asgeirsdottir

^*Corresponding author for this work

Faculty of Economics

Research output: Contribution to journal › Article › peer-review

Abstract

We examine the importance of perception in the relationship between income and happiness. Using Icelandic data, we show that people’s perception of their economic standing is more telling of their happiness than their actual income. We find a stronger association between happiness and a negative perception of one’s economic standing than happiness and a positive perception.

Original language	English
Journal	Applied Economics Letters
DOIs	https://doi.org/10.1080/13504851.2022.2097626
Publication status	Published - 6 Jul 2022

Bibliographical note

Funding Information:
Provision of data from the Directorate of Health in Iceland is gratefully acknowledged, as well as funding from the Icelandic Student Innovation Fund (grant no. 195999-0091), The

Funding Information:
Icelandic Research Fund (grant no. 130611-051), and The University of Iceland Research

Publisher Copyright:
© 2022 Informa UK Limited, trading as Taylor & Francis Group.

Other keywords

happiness
income
Perceived economic standing
relative income

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10.1080/13504851.2022.2097626

Cite this

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author = "Gudrun Svavarsdottir and Asgeirsdottir, {Tinna Laufey}",

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AU - Asgeirsdottir, Tinna Laufey

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AB - We examine the importance of perception in the relationship between income and happiness. Using Icelandic data, we show that people’s perception of their economic standing is more telling of their happiness than their actual income. We find a stronger association between happiness and a negative perception of one’s economic standing than happiness and a positive perception.

KW - happiness

KW - income

KW - Perceived economic standing

KW - relative income

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The relationship between perceived economic standing and happiness

Abstract

Bibliographical note

Other keywords

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