Life-Satisfaction and Preference Drift |
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| Authors: | Wim Groot Henriëtte Maassen van den Brink |
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| Institution: | (1) Department of Health Sciences, Maastricht University, USA;(2)  Scholar Research Centre for Education and Labor Market, Department of Economics, University of Amsterdam, Amesterdam;(3) Department of Economics and Management, Wageningen University, USA |
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| Abstract: | In this paper an empirical model is presented thataccounts for adaptation behavior in self-reports onlife-satisfaction. The model is used to determinepreference drift – adaptation to income levels – inlife-satisfaction. With preference drift, the effectof income on life satisfaction varies with the levelof life satisfaction. It is found that preferencedrift mainly occurs among individuals with a highlevel of life-satisfaction. |
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| Keywords: | adaptation income life-satisfaction preference drift |
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