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Can money buy happiness?

Summary:
Contrary to what I was taught in Sunday School, self-reported happiness rises with income, but at a declining rate:each dollar (of income )starts to matter less the more a person earns. "We would expect two people earning ,000 and ,000, respectively, to have the same difference in well-being as two people earning 0,000 and 0,000, respectively. In other words, proportional differences in income matter the same to everyone."

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[email protected] (Luke Froeb) considers the following as important: ,

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Contrary to what I was taught in Sunday School, self-reported happiness rises with income, but at a declining rate:

each dollar (of income )starts to matter less the more a person earns. "We would expect two people earning $25,000 and $50,000, respectively, to have the same difference in well-being as two people earning $100,000 and $200,000, respectively. In other words, proportional differences in income matter the same to everyone."


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