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Money and Happiness: The Combined Effects of Wealth, Income and Consumption
Headey, Bruce | Muffels, Ruud | Wooden, Mark
Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 125 (2005), Iss. 1 : pp. 131–144
3 Citations (CrossRef)
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Headey, Bruce
Muffels, Ruud
Wooden, Mark
Cited By
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Financial Satisfaction in Old Age: A Satisfaction Paradox or a Result of Accumulated Wealth?
Hansen, Thomas | Slagsvold, Britt | Moum, TorbjørnSocial Indicators Research, Vol. 89 (2008), Iss. 2 P.323
https://doi.org/10.1007/s11205-007-9234-z [Citations: 112] -
Consumer wealth
Tully, Stephanie M. | Sharma, EeshaConsumer Psychology Review, Vol. 5 (2022), Iss. 1 P.125
https://doi.org/10.1002/arcp.1073 [Citations: 12] -
The Relation Between Life Satisfaction and the Material Situation: A Re-Evaluation Using Alternative Measures
Christoph, Bernhard
Social Indicators Research, Vol. 98 (2010), Iss. 3 P.475
https://doi.org/10.1007/s11205-009-9552-4 [Citations: 52]
Abstract
The paper uses household economic panel data from five countries - Australia, Britain, Germany, Hungary and The Netherlands - to provide a reconsideration of the impact of economic well-being on happiness. The main conclusion is that happiness is considerably more affected by economic circumstances than previously believed. In all five countries wealth affects life satisfaction more than income. In the countries for which consumption data are available (Britain and Hungary), non-durable consumption expenditures also prove at least as important to happiness as income.