TY  - RPRT
        AU  - Stevenson, Betsey
AU  - Wolfers, Justin
        TI  - Subjective Well‐Being and Income: Is There Any Evidence of Satiation?
        PY  - 2013/Apr/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 7353
        UR  - https://www.iza.org/publications/dp7353
        AB  - 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.
        KW  - basic needs
KW  - satiation
KW  - happiness
KW  - subjective well-being
KW  - Easterlin paradox
        ER  -