Executive summary: Replicating Killingsworth & Kahneman’s 2022 findings using UK health survey data, the author finds similar results suggesting no absolute “happiness ceiling” for income, though extra income has diminishing returns for happiness in an unhappy minority.
Key points:
The author replicates Killingsworth & Kahneman’s (KK) 2022 findings using 2012 UK health survey data with a different well-being measure.
For the median and majority of the population (50th, 70th, 85th percentiles), happiness continues to increase with log income above a high threshold (£50,000 in 2012).
For an unhappy minority (5th to 35th percentiles), extra income has no association with happiness above the £50,000 threshold.
The replication is notable given differences in the dataset and provides a small update in favor of KK’s findings against a “happiness ceiling”.
The findings suggest continued economic growth may increase happiness for most but also increase happiness inequality.
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Executive summary: Replicating Killingsworth & Kahneman’s 2022 findings using UK health survey data, the author finds similar results suggesting no absolute “happiness ceiling” for income, though extra income has diminishing returns for happiness in an unhappy minority.
Key points:
The author replicates Killingsworth & Kahneman’s (KK) 2022 findings using 2012 UK health survey data with a different well-being measure.
For the median and majority of the population (50th, 70th, 85th percentiles), happiness continues to increase with log income above a high threshold (£50,000 in 2012).
For an unhappy minority (5th to 35th percentiles), extra income has no association with happiness above the £50,000 threshold.
The replication is notable given differences in the dataset and provides a small update in favor of KK’s findings against a “happiness ceiling”.
The findings suggest continued economic growth may increase happiness for most but also increase happiness inequality.
This comment was auto-generated by the EA Forum Team. Feel free to point out issues with this summary by replying to the comment, and contact us if you have feedback.