Predictors of income level: A sociodemographic, social and contextual analysis

Abstract

The purpose of this study is to investigate the impact of income levels on different facets of everyday life, encompassing aspects such as food accessibility, housing, living conditions, healthcare services. Additionally, the research intends to grasp the factors that contribute to defining the financial worth of income. The public database used in this study was retrieved from the World Values Survey (WVS): Wave 7 that includes several items related to demographics, social and neighborhood variables. Persistent gender income gaps, favoring men and younger individuals in higher brackets, result from historical norms, pay gaps, and age-related factors. Education correlates with income, notably among upper-middle and upper-class individuals. Neighborhood dynamics affect incomes positively through diverse interactions and negatively through health challenges. Income disparities are intricate and influenced by a combination of demographic, social, and personal factors. Addressing these economic hurdles and fostering diverse interactions contribute to high incomes.