Sadly for the majority of us, money does appear to buy happiness http://econ.st/1lA0qez pic.twitter.com/AvJ4a828sy
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@deivudesu check out the paper. authors make a decent case that, counter-intuitively, data shows no satiation, i.e. more *is* always better.
@fmu using self-reported data, all you get is the cultural *perception* of what their satisfaction should be.
@deivudesu what methods other than self-reporting might elicit happiness values?
@fmu never claimed there were easy methodologies to use instead, merely that this one was crappy :-)
@deivudesu the entire point of micro is to tease apart behavior into radically simplified models for analysis without "but also consider X"
@fmu that runs counter to 100s of papers that give a log relation between wealth and satisfaction. Obviously not using 'self-reported'
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