Publication Information
Using cross-sectional data from the Young Lives survey for a cohort of 12-year-old children in Vietnam, we find that children from ethnic minority and poor households have lower subjective well-being, on average, than those from ethnic majority and non-poor households. Absolute income is positively correlated with subjective well-being but no longer is significant once relative income is controlled for. There is some evidence that income-happiness is an inverted U-shape relationship, which means that there are diminishing returns to income.
Using cross-sectional data from the Young Lives survey for a cohort of 12-year-old children in Vietnam, we find that children from ethnic minority and poor households have lower subjective well-being, on average, than those from ethnic majority and non-poor households. Absolute income is positively correlated with subjective well-being but no longer is significant once relative income is controlled for. There is some evidence that income-happiness is an inverted U-shape relationship, which means that there are diminishing returns to income.