Re:How much money do people need to be happy?
by dgacmu on Wednesday February 28, 2018 @05:07PM
(#16487569)
It's also worth noting that it's normalized to household size -- income divided by sqrt(household size). So for a married couple with two children -- a number close to my own heart -- the 105k satiation point would be real dollars of 210k/year.
Dollars are also represented as International Dollars, which are adjusted for the local purchasing power, expressed in units equivalent to one USD in the US.
No, it's before tax income.
Income Variables. Participants were asked to report monthly household income rather than yearly income to facilitate responding. Respondents were asked the question, “What is your total monthly household income in [local currency], before taxes? Please include income from wages and salaries, remittances from family members living elsewhere, farming, and all other sources.” Households were defined as a person’s home that had its own cooking facilities, which could have been anything ranging from a one-room flat to a single house.
From the study's supplementary information: https://static-content.springer.com/esm/art%3A10.1038%2Fs415...