Abstract
Several scholars have argued that because of problems associated with the use of a uniform 'objective' standard in assessments of well-being, more attention should be given to persons' own judgments of well-being. This article develops a conceptual mapping of processes involved in judgments of income adequacy and then tests a number of derived hypotheses with data from a probability sample of older adults. The results indicate that relative standing as well as health status, household size, and level of income have independent effects on judgments of income adequacy; that income is endogenous to the judgment process; that effects of demographic variables and labor supply are sensitive to that endogeneity; and that as older adults age, they tend to discount needs relative to available income. Even under conditions of poverty, there is a strong bias toward positive judgments of adequacy.
Original language | English (US) |
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Pages (from-to) | 69-107 |
Number of pages | 39 |
Journal | Research on Aging |
Volume | 19 |
Issue number | 1 |
DOIs | |
State | Published - Jan 1 1997 |
All Science Journal Classification (ASJC) codes
- Social Psychology
- Health(social science)
- Geriatrics and Gerontology