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Racial Differences in the Income-Well-Being Gradient

2024
  • 0
    Citations
  • 202
    Usage
  • 0
    Captures
  • 1
    Mentions
  • 0
    Social Media
Metric Options:   Counts1 Year3 Year

Metrics Details

  • Usage
    202
    • Abstract Views
      174
    • Downloads
      28
  • Mentions
    1
    • Blog Mentions
      1
      • Blog
        1

Paper Description

This paper investigates the relationship between income and subjective well-being across racial groups. Utilizing data for millions of Americans, mainly from the Gallup Daily Poll, we find significant differences in the income-well-being gradient among racial groups. Whites experience a steeper gradient, gaining more well-being per dollar than Blacks and Asians. These results cannot be explained by well-being pessimism among minorities, as Whites are actually most pessimistic about their future well-being at every observed income level. Policy makers who aim to maximize societal well-being would need to consider such heterogeneity. However, survey results show strong opposition to race-based redistributive policies, even if they enhance overall happiness, raising ethical and practical considerations for policymakers.

Bibliographic Details

Bouke Klein Teeselink; Jin Kim; Gal Zauberman

Elsevier BV

subjective well-being; race; income-well-being gradient; redistribution

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