The Relationship between Objective and Subjective Economic Well-being in Russia

The International Laboratory for Social Integration Research

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THE RELATIONSHIP BETWEEN OBJECTIVE 
AND SUBJECTIVE ECONOMIC WELL-BEING IN RUSSIA

The results known in academic literature as the Easterlin paradox became a trigger for the subsequent discussion about the gap between objective and subjective measures of well-being. In particular, there is still no consensus on the explanatory mechanism underlying the relationship between objective and subjective well-being. The study aims to explain why the findings on the relationship type between economic well-being and its perception are inconsistent. The author focuses on Russia and examines economic well-being in this country both in cross-sectional and longitudinal perspectives. The second part of the analyses uses the panel data from the Russian Longitudinal Monitoring Survey – HSE.