{"id":179,"date":"2007-01-31T12:52:03","date_gmt":"2007-01-31T20:52:03","guid":{"rendered":"https:\/\/bayesianinvestor.com\/blog\/index.php\/2007\/01\/31\/money-buys-happiness\/"},"modified":"2015-10-08T19:06:02","modified_gmt":"2015-10-09T03:06:02","slug":"money-buys-happiness","status":"publish","type":"post","link":"https:\/\/bayesianinvestor.com\/blog\/index.php\/2007\/01\/31\/money-buys-happiness\/","title":{"rendered":"Money buys happiness?"},"content":{"rendered":"<p>There has been a fair amount of research suggesting that beyond some low threshold, additional money does little to increase a person&#8217;s happiness.<br \/>\n<a href=\"http:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=571661\">Here&#8217;s a research report<\/a> (see also <a href=\"http:\/\/patrissimo.livejournal.com\/477992.html\">here<\/a>) indicating that the effect of money has sometimes been underestimated because researchers use income as a measure of money, when wealth has a higher correlation with happiness.<br \/>\nThere&#8217;s probably more than one reason for this. Wealth produces a sense of security that isn&#8217;t achieved by having a high income but spending that income quickly. Also, it&#8217;s possible that people with high savings rates tend to be those who are easily satisfied with their status, whereas those who don&#8217;t save when they have high incomes are those who have a strong need to show off their incomes in order to compete for status (and since competition for status is in some ways a zero sum game, many of them will fail).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There has been a fair amount of research suggesting that beyond some low threshold, additional money does little to increase a person&#8217;s happiness. Here&#8217;s a research report (see also here) indicating that the effect of money has sometimes been underestimated because researchers use income as a measure of money, when wealth has a higher correlation [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[16,29],"tags":[143,63,81],"class_list":["post-179","post","type-post","status-publish","format-standard","hentry","category-econ","category-health","tag-happiness","tag-psychology","tag-status"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p80O1l-2T","_links":{"self":[{"href":"https:\/\/bayesianinvestor.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/179","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bayesianinvestor.com\/blog\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bayesianinvestor.com\/blog\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bayesianinvestor.com\/blog\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bayesianinvestor.com\/blog\/index.php\/wp-json\/wp\/v2\/comments?post=179"}],"version-history":[{"count":1,"href":"https:\/\/bayesianinvestor.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/179\/revisions"}],"predecessor-version":[{"id":513,"href":"https:\/\/bayesianinvestor.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/179\/revisions\/513"}],"wp:attachment":[{"href":"https:\/\/bayesianinvestor.com\/blog\/index.php\/wp-json\/wp\/v2\/media?parent=179"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bayesianinvestor.com\/blog\/index.php\/wp-json\/wp\/v2\/categories?post=179"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bayesianinvestor.com\/blog\/index.php\/wp-json\/wp\/v2\/tags?post=179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}