Earnings and happiness, revisited – Marginal REVOLUTION


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Measures of well-being have typically been discovered to rise with log (revenue). Kahneman and Deaton [Proc. Natl. Acad. Sci. U.S.A. 107, 16489–93 (2010)] reported an exception; a measure of emotional well-being (happiness) elevated however then flattened someplace between $60,000 and $90,000. In distinction, Killingsworth [Proc. Natl. Acad. Sci. U.S.A. 118, e2016976118 (2021)] noticed a linear relation between happiness and log(revenue) in an experience-sampling examine. We found in a joint reanalysis of the expertise sampling information that the flattening sample exists however is restricted to the least completely happy 20% of the inhabitants, and that complementary nonlinearities contribute to the general linear-log relationship between happiness and revenue. We hint the discrepant outcomes to the authors’ reliance on normal practices and assumptions of information evaluation that needs to be questioned extra typically, though they’re normal in social science.

That’s from a latest collaboration by Matthew A. Killingsworth, Daniel Kahneman, and Barbara Mellers.  By way of the superb Kevin Lewis.  So should you’re wealthy, don’t be a tragic sack!  No want for that.


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