One of the most crucial questions for all investors, not just those planning for retirement, is whether more money leads to more happiness. A new study helps resolve what up until now have been polar-opposite answers to this question. The study was able to do this because it represents a collaboration between researchers in both camps:
One half of this collaboration was Princeton University’s Daniel Kahnemann, the 2002 Nobel laureate in economics and author of well-known books such as “Thinking Fast and Slow.” In a 2010 study, he and Angus Deaton, also of Princeton, found that more money is associated with greater happiness only up until a point — $75,000 of annual income, about $100,000 in today’s dollars — but thereafter disappears.
In the opposing camp was Matthew Killingsworth of the Wharton School at the University of Pennsylvania. He found from his 2021 study that the correlation between money and happiness continues all the way up the income ladder.
But for the willingness of these opposing researchers to collaborate on finding a common answer, their conflicting answers would have remained the state of the art — allowing commentators on both s …
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One half of this collaboration was Princeton University’s Daniel Kahnemann, the 2002 Nobel laureate in economics and author of well-known books such as “Thinking Fast and Slow.” In a 2010 study, he and Angus Deaton, also of Princeton, found that more money is associated with greater happiness only up until a point — $75,000 of annual income, about $100,000 in today’s dollars — but thereafter disappears.
In the opposing camp was Matthew Killingsworth of the Wharton School at the University of Pennsylvania. He found from his 2021 study that the correlation between money and happiness continues all the way up the income ladder.
But for the willingness of these opposing researchers to collaborate on finding a common answer, their conflicting answers would have remained the state of the art — allowing commentators on both s …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]