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INEQUALITY OF SUBJECTIVE WELL‐BEING AS A COMPREHENSIVE MEASURE OF INEQUALITY
Author(s) -
Goff Leonard,
Helliwell John F.,
Mayraz Guy
Publication year - 2018
Publication title -
economic inquiry
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.823
H-Index - 72
eISSN - 1465-7295
pISSN - 0095-2583
DOI - 10.1111/ecin.12582
Subject(s) - happiness , inequality , index (typography) , economics , measure (data warehouse) , economic inequality , income inequality metrics , scale (ratio) , econometrics , mathematics , demographic economics , psychology , social psychology , geography , mathematical analysis , database , world wide web , computer science , cartography
The link between happiness and overall inequality is best studied using an index that incorporates different aspects of inequality, and is measured consistently in different countries. One such index is the degree to which happiness itself varies among individuals. Its correlation with both happiness levels and social trust is substantially stronger than the corresponding correlation for income inequality. This remains so after allowing for bounded scale reporting, including a purely ordinal measure of dispersion. Moreover, the correlation is stronger for individuals who profess to care most about inequality. The link between happiness and inequality may thus be stronger than previously appreciated. ( JEL I31, D6, D63, D31)