Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/80577
Authors: 
Stevenson, Betsey
Wolfers, Justin
Year of Publication: 
2013
Series/Report no.: 
IZA Discussion Paper 7353
Abstract: 
Many scholars have argued that once basic needs have been met, higher income is no longer associated with higher in subjective well-being. We assess the validity of this claim in comparisons of both rich and poor countries, and also of rich and poor people within a country. Analyzing multiple datasets, multiple definitions of basic needs and multiple questions about well-being, we find no support for this claim. The relationship between well-being and income is roughly linear-log and does not diminish as incomes rise. If there is a satiation point, we are yet to reach it.
Subjects: 
subjective well-being
happiness
satiation
basic needs
Easterlin paradox
JEL: 
D6
I3
N3
O1
O4
Document Type: 
Working Paper

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