Relativity, Rank and The Utility of Income
提出一个基于收入排名和适应性调整的基数效用模型，统一解释了莱顿个人福利函数和前景理论价值函数，并解释了幸福感文献中的一些长期悖论。
Relative utility has become an important concept in several disjoint areas of economics. I present a cardinal model of income utility based on the supposition that agents care about their rank in the income distribution and that utility is subject to adaptation over time. Utility levels correspond to the Leyden Individual Welfare Function while utility differences yield a version of the prospect theory value function, thereby providing a new and shared derivation of each. I offer an explanation of some long-standing paradoxes in the wellbeing literature and an insight into the links between relative comparisons and loss aversion. Copyright © 2008 The Author(s).