Absolute Income or Relative Wealth?An Individual Level Study of the Effects of Income on Happiness in China

Yunqing（Audrey）Wang

doi:10.47297/wspceWSP2516-251904.20210502

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Absolute Income or Relative Wealth?An Individual Level Study of the Effects of Income on Happiness in China

5卷第2期

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Absolute Income or Relative Wealth?An Individual Level Study of the Effects of Income on Happiness in China
Absolute Income or Relative Wealth?An Individual Level Study of the Effects of Income on Happiness in China
Shanghai Pinghe School
2021年5卷第2期页码：29-37
纸质出版日期： 2021 ，
DOI：10.47297/wspceWSP2516-251904.20210502
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Yunqing（Audrey）Wang. (2021). Absolute Income or Relative Wealth?An Individual Level Study of the Effects of Income on Happiness in China. 创意经济（英文版）, 5(2), 29-37.

YUNQING（AUDREY）WANG. (2021). Absolute Income or Relative Wealth?An Individual Level Study of the Effects of Income on Happiness in China. Creative Economy, 5(2), 29-37..
Yunqing（Audrey）Wang. (2021). Absolute Income or Relative Wealth?An Individual Level Study of the Effects of Income on Happiness in China. 创意经济（英文版）, 5(2), 29-37. DOI： 10.47297/wspceWSP2516-251904.20210502.

YUNQING（AUDREY）WANG. (2021). Absolute Income or Relative Wealth?An Individual Level Study of the Effects of Income on Happiness in China. Creative Economy, 5(2), 29-37.. DOI： 10.47297/wspceWSP2516-251904.20210502.

摘要

Abstract

Happiness is an important issue for both individuals and society. This issue has been studied extensively by economists. The absolute utility theory predicts that happiness is determined by the level of absolute income

while the relative utility theory maintains that happiness is determined by the relative level of wealth. In this research I study the relationship between happiness and income

including both absolute income and relative wealth

based on the dataset of the 2015 Chinese General Social Survey (CGSS). The findings show that the relative wealth is an important determinant of happiness in China

but the absolute income has almost no impact on happiness

which indicates that the relative utility theory explains the relationship between happiness and income well in China

but the absolute utility theory seems do not work.

关键词

Keywords

Happiness Absolute income Relative wealth

references

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