29 Apr '13, 11pm

Money does indeed buy happiness & more money leads to more happiness: US researchers

WASHINGTON (AFP) - Money does indeed buy happiness, and more money leads to more happiness, according to a study released Monday by economic researchers. While a link between money and well-being is not surprising, the new study contradicts some earlier research which suggested the effect diminished above a certain level of income which allows people to meet basic needs. University of Michigan economists Betsey Stevenson and Justin Wolfers say in their paper in the May 2013 American Economic Review, Papers and Proceedings that there is no evidence of a "satiation" point in the money-happiness equation. "We find no evidence of a satiation point," they wrote. "The income-well-being link that one finds when examining only the poor, is similar to that found when examining only the rich."

Full article: http://www.straitstimes.com/breaking-news/technology/stor...

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