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Economics and Happiness$
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Luigino Bruni and Pier Luigi Porta

Print publication date: 2005

Print ISBN-13: 9780199286287

Published to Oxford Scholarship Online: February 2006

DOI: 10.1093/0199286280.001.0001

Does Absolute Income Matter?

Chapter:
(p.65) 2 Does Absolute Income Matter?
Source:
Economics and Happiness
Author(s):

Robert H. Frank

Publisher:
Oxford University Press
DOI:10.1093/0199286280.003.0003

The answer to the question in the title is that abosolute income does matter. An important finding in the literature on well-being is that beyond a fairly low income threshold, measured well-being changes little as the incomes of population members rise over time. It is argued that despite the latter finding, one should be reluctant to conclude that absolute income has no bearing on human well-being.

Keywords:   well-being, welfare, income

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