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Katsunori Yamada, Atsushi Sannabe and Takashi Saito
''Satisfaction and Comparison Income in Japan: evidence from data of Japanese union workers''
( 2005, Vol. 4 No.17 )
This paper presents preliminary results of empirical tests for Japanese union workers on a relative utility hypothesis, along the line developed by Clark and Oswald (1996). While our results support the existence of relative utility among Japanese union workers, a caveat is presented. We argue that the traditional approach in constructing a measure of relative income might be inappropriate, at least with regard to Japanese union workers.
Keywords: Comparison income
JEL: D0 - Microeconomics: General
Z0 - Other Special Topics: General
Manuscript Received : Dec 12 2005 Manuscript Accepted : Dec 21 2005

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