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| Type | Working Paper |
| Scope | Discipline-based scholarship |
| Title | Hedonic Adaptation to Living Standards and the Hidden Cost of Parental Income |
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| Institution | University of Zurich |
| Series Name | Working paper series / Socioeconomic Institute |
| Number | No. 713 |
| Date | 2007 |
| Abstract Text | High parental income, while undeniably causing beneÞts for a child in terms of better access to education and more favorable labor market outcomes, may at the same time increase a childÕs income aspirations and thereby reduce Þnancial satisfaction, ceteris paribus. In this paper, we investigate the relationship between Þnancial satisfaction and parental income with data from the German Socio-Economic Panel. The results indicate that there is indeed a negative well-being externality of parental income, and that children appear to compare their actual income situation with the aspiration level acquired while growing up. |
| Official URL | http://www.econ.uzh.ch/wp.html |
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