Would You Be Happier If You Were Richer? A Focusing Illusion

Author:

Kahneman Daniel12345,Krueger Alan B.12345,Schkade David12345,Schwarz Norbert12345,Stone Arthur A.12345

Affiliation:

1. Princeton University, Princeton, NJ 08544, USA.

2. National Bureau of Economic Research, Cambridge, MA 02138, USA.

3. Rady School of Management, University of California, San Diego, San Diego, CA 92093, USA.

4. Department of Psychology, University of Michigan, Ann Arbor, MI 48106, USA.

5. Stony Brook University, Stony Brook, NY, 11794, USA.

Abstract

The belief that high income is associated with good mood is widespread but mostly illusory. People with above-average income are relatively satisfied with their lives but are barely happier than others in moment-to-moment experience, tend to be more tense, and do not spend more time in particularly enjoyable activities. Moreover, the effect of income on life satisfaction seems to be transient. We argue that people exaggerate the contribution of income to happiness because they focus, in part, on conventional achievements when evaluating their life or the lives of others.

Publisher

American Association for the Advancement of Science (AAAS)

Subject

Multidisciplinary

Reference32 articles.

1. Will raising the incomes of all increase the happiness of all?

2. “Building a better theory of well-being ” 2003

3. Happiness: Lessons from a New Science 2005

4. Stumbling on Happiness 2006

5. Priming and communication: Social determinants of information use in judgments of life satisfaction

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