주관적 만족도를 이용한 습관형성 이론과상대소득 가설의 검정
Testing for Habit Formation Theory and Relative Income Hypothesis by Using Subjective Well-being
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초록
습관형성 이론과 상대소득 가설에 의하면 개인의 만족도는 현재 소비 수준뿐 아니라 과거 소비 수준(습관형성 이론)과 준거집단의 소득 수준(상대소득 가설)에 의해서도 결정된다. 본 연구는 한국노동패널에 나와 있는 주관적 만족도에 관한 설문 자료를 이용하여 개인의 만족도가 과거의 소비 및 타인의 소비에 의하여 어떤 영향을 받는지를 살펴본다. 본 연구의 실증분석 결과에 의하면 첫째, 개인의 과거 소비(소득) 수준은 현재의 주관적 만족도와 유의한 양의 관계를 갖는다. 이는 소비에 있어서 습관형성보다 소비의 내구성이 상대적으로 더 중요하게 작용함을 시사한다. 둘째, 동일 지역에 거주하는 사람들의 소비(소득)는 개인의 주관적 만족도를 낮추는 반면 동일 학력·직업군에 속한 사람들의 소비(소득)는 개인의 주관적 만족도를 높이는 것으로 나타난다. 이는 준거집단이 개인의 만족도에 미치는 영향이 매우 다양할 수 있음을 보여준다.
Abstract
According to habit formation theory and relative income hypothesis, individual utility (subjective well-being) is determined by their own past consumption levels and others’ incomes respectively, as well as their own current consumption levels. Hence, this paper considers individual past consumptions (incomes), and consumptions (incomes) of two different reference groups to analyze the effects of these variables on subjective well-being. All data was retrieved from KLIPS (Korean Labor and Income Panel Study). The results of this paper show that 1) the durability of consumption is more important than habit formation in terms of consumption since individual past consumptions give a significantly positive effect on individuals’ satisfaction. 2) On the other hand, the coefficients of relative income show both positive and negative signs depending on the reference groups. Individual satisfaction was negatively affected by regional groups’ average consumption levels while, in contrast, individual satisfaction was affected positively by the average consumption levels of education & occupation groups. These results imply the possibility of diverse effects of reference groups on subjective well-being.
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