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Title:On the common claim that happiness equations demonstrate diminishing marginal utility of income PDF Logo
Authors:Oswald, Andrew J.
Issue Date:2005
Series/Report no.:IZA Discussion Papers 1781
Abstract:It is commonly claimed in the recent happiness literature in psychology and economics that we have proved diminishing marginal utility of income. This paper suggests that we have not. It draws a distinction between concavity of the utility function and concavity of the reporting function.
Subjects:happiness
money
marginal utility
curvature
concave
JEL:I3
D1
Document Type:Working Paper
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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