The Money Buffer Effect in China: A Higher Income Cannot Make You Much Happier but Might Allow You to Worry Less

Li, Bin; Li, Aimei; Xiaotian, Wang; Hou, Yunsong

doi:10.3389/fpsyg.2016.00234

Cited by 12 publications

(11 citation statements)

References 45 publications

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“…How it does so, however, is constantly debated. Some suggest that higher income may not necessarily increase SWB but does buffer the impacts of negative emotions, such as worry [105,147,152]. Income may also exert a greater influence on SWB at extreme levels of poverty, but once basic needs are met, the influence wanes [93].…”

Section: Sesmentioning

confidence: 99%

“…Income may also exert a greater influence on SWB at extreme levels of poverty, but once basic needs are met, the influence wanes [93]. Income can also relate to specific aspects of life that may lead to higher EVA, such as satisfaction with material status, social status, health, achievement, and future security [82,94,105,121,144]. Education has been found to be weakly related to EVA [101,118,119], and this relationship is influenced significantly by income and other socioeconomic variables [59,63,73,103,118,131,150].…”

Section: Sesmentioning

confidence: 99%

“…Informal caregiving for children, parents, relatives, or the disabled has a negative impact on SWB if the care-receiver is disabled or if the caregiver has a full-time job in addition to having caregiver responsibilities [87,139]. A combination of family structure and income satisfaction has also been found to influence emotions in terms of what one worries about and how one thinks these worries can be resolved [61,66,82,88,94,105].…”

Section: Sesmentioning

confidence: 99%

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Understanding subjective well-being: perspectives from psychology and public health

et al. 2020

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Background Individual subjective well-being (SWB) is essential for creating and maintaining healthy, productive societies. The literature on SWB is vast and dispersed across multiple disciplines. However, few reviews have summarized the theoretical and empirical tenets of SWB literature across disciplinary boundaries. Methods We cataloged and consolidated SWB-related theories and empirical evidence from the fields of psychology and public health using a combination of online catalogs of scholarly articles and online search engines to retrieve relevant articles. For both theories and determinants/correlates of SWB, PubMed, PsychINFO, and Google Scholar were used to obtain relevant articles. Articles for the review were screened for relevance, varied perspectives, journal impact, geographic location of study, and topicality. A core theme of SWB empirical literature was the identification of SWB determinants/correlates, and over 100 research articles were reviewed and summarized for this review. Results We found that SWB theories can be classified into four groups: fulfillment and engagement theories, personal orientation theories, evaluative theories, and emotional theories. A critical analysis of the conflicts and overlaps between these theories reveals the lack of a coherent theoretical and methodological framework that would make empirical research systematically comparable. We found that determinants/correlates of SWB can be grouped into seven broad categories: basic demographics, socioeconomic status, health and functioning, personality, social support, religion and culture, and geography and infrastructure. However, these are rarely studied consistently or used to test theories. Conclusions The lack of a clear, unifying theoretical basis for categorizing and comparing empirical studies can potentially be overcome using an operationalizable criterion that focuses on the dimension of SWB studied, measure of SWB used, design of the study, study population, and types of determinants and correlates. From our review of the empirical literature on SWB, we found that the seven categories of determinants/correlates identified may potentially be used to improve the link between theory and empirical research, and that the overlap in the determinant/correlates as they relate to multiple theory categories may enable us to test theories in unison. However, doing so in the future would require a conscious effort by researchers in several areas, which are discussed.

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Section: Sesmentioning

confidence: 99%

Section: Sesmentioning

confidence: 99%

Section: Sesmentioning

confidence: 99%

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Understanding subjective well-being: perspectives from psychology and public health

et al. 2020

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“…A number of studies have also demonstrated that income (sometimes referred to as wealth) is curvilinearly associated with health and subjective well-being (e.g. Li et al, 2016;Mackenbach et al, 2004). Similarly, Kahneman and Deaton (2010) reported a positive linear relationship between income and life evaluation (i.e.…”

Section: Assessment Of the Two Types Of Socio-economic Statusmentioning

confidence: 99%

A Comprehensive Investigation of Associations of Objective and Subjective Socioeconomic Status with Perceived Health and Subjective Well-Being

Kezer¹,

Cemalcılar²

2020

rips

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Socioeconomic status (SES) accounts for disparities in material and psychological outcomes across the lifespan (Saegert et al., 2006). Traditionally, SES has been assessed as a combination of objective indicators, namely individuals' income, education, and occupational status (Diemer et al., 2013;White, 1982). There is a wealth of research showing that SES is associated with a wide array of health, cognitive, and psychological outcomes throughout different life stages, starting from infancy (Bradley & Corwyn, 2002) to old age (Moreno-Agostine et al., 2019). The effects of socioeconomic status on health and well-being are explained in terms of access to material and social resources. Despite a lack of consensus on how to combine the three indicators that fits best for groups with diverse socio-economic and cultural characteristics, researchers agree that income, educational level, and occupational status provide individuals with access to financial capital (material resources), human capital (non-material resources such as education), and social capital (resources achieved through social connections; see Bradley & Corwyn, 2002;Pinxten & Lievens, 2014).

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“…Having a high income allows people to stop worrying or worry less about survival and material matters. This is what Li et al (2016) call the "money buffer effect. " In contrast, previous research has hypothesized that economic insecurity would increase people's economic worries (Roth et al, 2017).…”

Section: Socio-economic Influencesmentioning

confidence: 97%

Explaining People’s Worry Levels During the Covid-19 Pandemic: An Analysis of Socio-Economic and Cultural Dimensions

Rojas‐Méndez

2021

Front. Psychol.

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This paper examines the influence of socio-economic and cultural dimensions (measured at the country level) on what concerns people the most about the Covid-19 pandemic. Based on secondary data, the study considers the opinion of more than 24,000 individuals living in 30 different countries, with national samples weighted to match each country’s general population older than 18years of age. A set of linear Bayesian regressions was applied to 10 different types of worries reported for economic, health, and safety domains. Results demonstrate that socio-economic variables and cultural dimensions complement each other in explaining people’s concerns about the effect of the Covid-19 pandemic. An overall view of the analysis also reveals that cultural dimensions exceed socio-economic variables in explaining peoples’ worries about health and safety domains. Socio-economic variables are slightly more effective in explaining the worries of the economic domain. Among the cultural dimensions, long-term orientation and uncertainty avoidance are the best in explaining people’s worries. The higher the score in long-term orientation, the lower the worry levels expressed by the respondents. Likewise, low scores on uncertainty avoidance generate lower levels of worries due to the Covid-19 pandemic. Finally, health worries produce a positive outcome because they explain a significant reduction in the fatality rate.

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The Money Buffer Effect in China: A Higher Income Cannot Make You Much Happier but Might Allow You to Worry Less

Cited by 12 publications

References 45 publications

Understanding subjective well-being: perspectives from psychology and public health

Understanding subjective well-being: perspectives from psychology and public health

A Comprehensive Investigation of Associations of Objective and Subjective Socioeconomic Status with Perceived Health and Subjective Well-Being

Explaining People’s Worry Levels During the Covid-19 Pandemic: An Analysis of Socio-Economic and Cultural Dimensions

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