The income-happiness nexus: uncovering the importance of social comparison processes in subjective wellbeing.

ABSTRACT:

Introduction

Previous research has established a positive correlation between income and subjective wellbeing (SWB). This correlation is attributed to income's ability to provide material circumstances and influence one's perceived socioeconomic rank in society, known as subjective socioeconomic status (SES).

Objective

This study sought to examine whether social comparison processes could mediate the relationship between income and SWB. Specifically, we aimed to explore the impact of comparing one's current socioeconomic situation to individuals from a similar socioeconomic background (referred to as Comsim) on SWB, based on the similarity hypothesis of social comparison theory.

Methods

Data stem from two separate two-wave surveys. Study 1 comprised 588 participants,

SUBMITTER: Kraft P 

PROVIDER: S-EPMC10702233 | biostudies-literature | 2023

REPOSITORIES: biostudies-literature