Racial Differences in the Income-Well-Being Gradient
2024
- 202Usage
- 1Mentions
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Example: if you select the 1-year option for an article published in 2019 and a metric category shows 90%, that means that the article or review is performing better than 90% of the other articles/reviews published in that journal in 2019. If you select the 3-year option for the same article published in 2019 and the metric category shows 90%, that means that the article or review is performing better than 90% of the other articles/reviews published in that journal in 2019, 2018 and 2017.
Citation Benchmarking is provided by Scopus and SciVal and is different from the metrics context provided by PlumX Metrics.
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.
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