@TechReport{iza:izadps:dp7353,
            	author={Stevenson, Betsey and Wolfers, Justin},
            	title={Subjective Well‐Being and Income: Is There Any Evidence of Satiation?},
            	year={2013},
	month={Apr},
            	institution={Institute of Labor Economics (IZA)},
            	address={Bonn},
            	type={IZA Discussion Paper},
            	number={7353},
            	url={https://www.iza.org/publications/dp7353},
	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.},
	keywords={basic needs;satiation;happiness;subjective well-being;Easterlin paradox},
            }