The relative income, subjective well-being connect

News Today 20.09.2021

Individuals adapt to material goods, and these goods yield little joy for most individuals. Thus, increases in income, which are expected to raise well-being by raising consumption opportunities, may in fact have minor lasting effect because consumption of material goods has little effect on well-being above a certain level of consumption or because of hedonic adaptation. This has been questioned on the grounds that there is no income threshold at which SWB diverged. (Read More)

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