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)
Did you check the recent updates in Issues-in-News?