RIP Philo

Money makes me happy

We surveyed a large sample of Swedish lottery players about their psychological well-being and analyzed the data following pre-registered procedures. Relative to matched controls, large-prize winners experience sustained increases in overall life satisfaction that persist for over a decade and show no evidence of dissipating with time. The estimated treatment effects on happiness and mental health are significantly smaller, suggesting that wealth has greater long-run effects on evaluative measures of well-being than on affective ones. Follow-up analyses of domain-specific aspects of life satisfaction clearly implicate financial life satisfaction as an important mediator for the long-run increase in overall life satisfaction.
Permalink B b 
June 6th, 2018 8:44pm
What I read is that, up to a certain point, money makes you happier.

I.e., not having to worry about food/shelter/healthcare, being able to work on your own projects instead of a dead-end job, etc.

After that, it doesn't improve much.
Permalink Send private email FSK 
June 6th, 2018 9:19pm
the OP link
Permalink Fool Boy 
June 6th, 2018 9:45pm

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