Re:Money can buy happiness
by ritchiea on Sunday January 12, 2014 @12:53PM
(#7046705)
The data I've seen shows the income where happiness flattens is around 100k rather than 70k so cutting off at 128k doesn't seem high enough to disprove the established research.
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Remember that both Easterlin's studies and the one in this article have been done in many countries and not just the US though. The $128k cap may seem limiting for the US but it is not for Nigeria or the other lower-income countries, yet they still show the same patterns.
Re:Money can buy happiness
by pedrosorio on Sunday January 12, 2014 @09:23PM
(#7048505)
"The $128k cap may seem limiting for the US but it is not for Nigeria or the other lower-income countries, yet they still show the same patterns."
And that's why the cap for Nigeria is at $8k...
In fact, as someone else has commented: https://news.ycombinator.com/item?id=7047548
"According to the paper (page 13), they only look at incomes between the 10th and 90th percentiles. That's why they cut off at $128,000 for US residents"
In my opinion, ignoring data from the top 10% earners is the perfect way to get plots that seem to disprove a paradox that states "Become rich enough, and a bigger paycheque no longer leads to more happiness".