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This article sheds light on the important differences in self-declared happiness across countries of similar affluence. It hinges on the different happiness statements of natives and immigrants in a set of European countries to disentangle the influence of objective circumstances versus psychological and cultural factors. The latter turn out to be of non-negligible importance. In some countries, such as France, they are responsible for the best part of the country's unobserved idiosyncratic source of unhappiness. French natives are less happy than other Europeans, whether they live in France or outside. By contrast, immigrants are not less happy in France than they are elsewhere in Europe, but their happiness fall with the passage of time and generations. I show that these gaps in self-declared happiness have a real emotional counterpart and do not boil down to purely nominal differences.

This article sheds light on the important differences in self-declared happiness across countries of similar affluence. It hinges on the different happiness statements of natives and immigrants in a set of European countries to disentangle the influence of objective circumstances versus psychological and cultural factors. The latter turn out to be of non-negligible importance. In some countries, such as France, they are responsible for the best part of the country's unobserved idiosyncratic source of unhappiness. French natives are less happy than other Europeans, whether they live in France or outside. By contrast, immigrants are not less happy in France than they are elsewhere in Europe, but their happiness fall with the passage of time and generations. I show that these gaps in self-declared happiness have a real emotional counterpart and do not boil down to purely nominal differences.

This article sheds light on the important differences in self-declared happiness across countries of similar affluence. It hinges on the different happiness statements of natives and immigrants in a set of European countries to disentangle the influence of objective circumstances versus psychological and cultural factors. The latter turn out to be of non-negligible importance. In some countries, such as France, they are responsible for the best part of the country's unobserved idiosyncratic source of unhappiness. French natives are less happy than other Europeans, whether they live in France or outside. By contrast, immigrants are not less happy in France than they are elsewhere in Europe, but their happiness fall with the passage of time and generations. I show that these gaps in self-declared happiness have a real emotional counterpart and do not boil down to purely nominal differences.

This article sheds light on the important differences in self-declared happiness across countries of similar affluence. It hinges on the different happiness statements of natives and immigrants in a set of European countries to disentangle the influence of objective circumstances versus psychological and cultural factors. The latter turn out to be of non-negligible importance. In some countries, such as France, they are responsible for the best part of the country's unobserved idiosyncratic source of unhappiness. French natives are less happy than other Europeans, whether they live in France or outside. By contrast, immigrants are not less happy in France than they are elsewhere in Europe, but their happiness fall with the passage of time and generations. I show that these gaps in self-declared happiness have a real emotional counterpart and do not boil down to purely nominal differences.

This article sheds light on the important differences in self-declared happiness across countries of similar affluence. It hinges on the different happiness statements of natives and immigrants in a set of European countries to disentangle the influence of objective circumstances versus psychological and cultural factors. The latter turn out to be of non-negligible importance. In some countries, such as France, they are responsible for the best part of the country's unobserved idiosyncratic source of unhappiness. French natives are less happy than other Europeans, whether they live in France or outside. By contrast, immigrants are not less happy in France than they are elsewhere in Europe, but their happiness fall with the passage of time and generations. I show that these gaps in self-declared happiness have a real emotional counterpart and do not boil down to purely nominal differences.

This article sheds light on the important differences in self-declared happiness across countries of similar affluence. It hinges on the different happiness statements of natives and immigrants in a set of European countries to disentangle the influence of objective circumstances versus psychological and cultural factors. The latter turn out to be of non-negligible importance. In some countries, such as France, they are responsible for the best part of the country's unobserved idiosyncratic source of unhappiness. French natives are less happy than other Europeans, whether they live in France or outside. By contrast, immigrants are not less happy in France than they are elsewhere in Europe, but their happiness fall with the passage of time and generations. I show that these gaps in self-declared happiness have a real emotional counterpart and do not boil down to purely nominal differences.

This paper provides direct evidence that income comparisons exert a significant impact on subjective well-being. It also evaluates the relative importance of different types of benchmarks. Internal comparisons to one's own past living standard outweigh any other comparison benchmarks. Local comparisons (to one's parents, former colleagues or high-school mates) are more powerful than self-ranking in the social ladder. The impact of comparisons is asymmetric: under-performing one's benchmark always has a greater welfare effect than out-performing it (in absolute value). Comparisons which reduce satisfaction also increase the demand for income redistribution, but there, the relative impact of subjective ranking is preponderant.

Using individual‐level data from a large number of countries, this paper examines how self‐reported subjective well‐being depends on own income and reference income, where reference income is defined as the income of one's professional peers. It uncovers a divide between 'old'—low‐mobility—European countries on the one hand, and 'new' European post‐Transition countries and the United States on the other. The relative importance of comparisons ('jealousy') versus information ('ambition') seems to depend on the degree of mobility and uncertainty in the considered countries.

This paper is dedicated to the empirical exploration of the welfare effect of expectations and progress per se. Using 10 waves of the Russian Longitudinal Monitoring Survey (RLMS), a panel household survey rich in subjective variables, the analysis suggests that for a given total stock of inter-temporal consumption, agents are more satisfied with an increasing time profile of consumption: they seem to have a strong "taste for improvement". This contributes to qualify the "Easterlin paradox" that income growth does not make people happy.

Using individual-level data from a large number of countries, this paper examines how self-reported subjective well-being depends on own income and reference income, where reference income is defined as the income of professional peers. It uncovers a divide between "old" -low mobility- European countries versus "new" European post-Transition countries and the United States. Whereas in the old Europe, the income of my reference group exerts a negative effect on my individual welfare, it has a positive impact in the new Europe and the United States. This finding is interpreted as reflecting the relative importance of comparisons ("jealousy") versus information ("ambition"), which in turn depends on the degree of mobility and uncertainty in the economy. ; Cet article tente de vérifier la conjecture selon laquelle la répartition du revenu affecte le bien-être des individus de manière différente suivant le degré de mobilité et d'incertitude qui caractérise leur environnement économique. L'accent est mis sur le lien entre satisfaction subjective et revenu du groupe de référence professionnel. Une analyse micro-économétrique portant sur plus d'un million d'observations permet de mettre en évidence une différence transatlantique dans la perception subjective des inégalités, c'est-à-dire une opposition entre les économies stabilisées de la "vieille Europe" d'une part, et les environnements plus mouvementés de la "nouvelle Europe" (centrale et orientale) et des Etats-Unis d'autre part.

Using individual-level data from a large number of countries, this paper examines how self-reported subjective well-being depends on own income and reference income, where reference income is defined as the income of professional peers. It uncovers a divide between "old" -low mobility- European countries versus "new" European post-Transition countries and the United States. Whereas in the old Europe, the income of my reference group exerts a negative effect on my individual welfare, it has a positive impact in the new Europe and the United States. This finding is interpreted as reflecting the relative importance of comparisons ("jealousy") versus information ("ambition"), which in turn depends on the degree of mobility and uncertainty in the economy. ; Cet article tente de vérifier la conjecture selon laquelle la répartition du revenu affecte le bien-être des individus de manière différente suivant le degré de mobilité et d'incertitude qui caractérise leur environnement économique. L'accent est mis sur le lien entre satisfaction subjective et revenu du groupe de référence professionnel. Une analyse micro-économétrique portant sur plus d'un million d'observations permet de mettre en évidence une différence transatlantique dans la perception subjective des inégalités, c'est-à-dire une opposition entre les économies stabilisées de la "vieille Europe" d'une part, et les environnements plus mouvementés de la "nouvelle Europe" (centrale et orientale) et des Etats-Unis d'autre part.

Using individual-level data from a large number of countries, this paper examines how self-reported subjective well-being depends on own income and reference income, where reference income is defined as the income of professional peers. It uncovers a divide between "old" -low mobility- European countries versus "new" European post-Transition countries and the United States. Whereas in the old Europe, the income of my reference group exerts a negative effect on my individual welfare, it has a positive impact in the new Europe and the United States. This finding is interpreted as reflecting the relative importance of comparisons ("jealousy") versus information ("ambition"), which in turn depends on the degree of mobility and uncertainty in the economy. ; Cet article tente de vérifier la conjecture selon laquelle la répartition du revenu affecte le bien-être des individus de manière différente suivant le degré de mobilité et d'incertitude qui caractérise leur environnement économique. L'accent est mis sur le lien entre satisfaction subjective et revenu du groupe de référence professionnel. Une analyse micro-économétrique portant sur plus d'un million d'observations permet de mettre en évidence une différence transatlantique dans la perception subjective des inégalités, c'est-à-dire une opposition entre les économies stabilisées de la "vieille Europe" d'une part, et les environnements plus mouvementés de la "nouvelle Europe" (centrale et orientale) et des Etats-Unis d'autre part.

Using individual-level data from a large number of countries, this paper examines how self-reported subjective well-being depends on own income and reference income, where reference income is defined as the income of professional peers. It uncovers a divide between "old" -low mobility- European countries versus "new" European post-Transition countries and the United States. Whereas in the old Europe, the income of my reference group exerts a negative effect on my individual welfare, it has a positive impact in the new Europe and the United States. This finding is interpreted as reflecting the relative importance of comparisons ("jealousy") versus information ("ambition"), which in turn depends on the degree of mobility and uncertainty in the economy. ; Cet article tente de vérifier la conjecture selon laquelle la répartition du revenu affecte le bien-être des individus de manière différente suivant le degré de mobilité et d'incertitude qui caractérise leur environnement économique. L'accent est mis sur le lien entre satisfaction subjective et revenu du groupe de référence professionnel. Une analyse micro-économétrique portant sur plus d'un million d'observations permet de mettre en évidence une différence transatlantique dans la perception subjective des inégalités, c'est-à-dire une opposition entre les économies stabilisées de la "vieille Europe" d'une part, et les environnements plus mouvementés de la "nouvelle Europe" (centrale et orientale) et des Etats-Unis d'autre part.

Using individual-level data from a large number of countries, this paper examines how self-reported subjective well-being depends on own income and reference income, where reference income is defined as the income of professional peers. It uncovers a divide between "old" -low mobility- European countries versus "new" European post-Transition countries and the United States. Whereas in the old Europe, the income of my reference group exerts a negative effect on my individual welfare, it has a positive impact in the new Europe and the United States. This finding is interpreted as reflecting the relative importance of comparisons ("jealousy") versus information ("ambition"), which in turn depends on the degree of mobility and uncertainty in the economy. ; Cet article tente de vérifier la conjecture selon laquelle la répartition du revenu affecte le bien-être des individus de manière différente suivant le degré de mobilité et d'incertitude qui caractérise leur environnement économique. L'accent est mis sur le lien entre satisfaction subjective et revenu du groupe de référence professionnel. Une analyse micro-économétrique portant sur plus d'un million d'observations permet de mettre en évidence une différence transatlantique dans la perception subjective des inégalités, c'est-à-dire une opposition entre les économies stabilisées de la "vieille Europe" d'une part, et les environnements plus mouvementés de la "nouvelle Europe" (centrale et orientale) et des Etats-Unis d'autre part.