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Tuesday, 05/08/2007Measuring the quality of people's daily lives via surveys, the results of a study published in the issue of journal Science reveals that income plays a rather insignificant role in day-to-day happiness.
Although most people imagine that if they had more money they could do more fun things and perhaps be happier, the reality seems to be that those with higher incomes tend to be tenser, and spend less time on simple leisurely activities.
In 2004, the researchers developed a survey tool that measures people's quality of daily lives. Then they asked 909 employed women to record the previous day's activities and their feelings toward them.
Recently, the researchers revisited the data from the 2004 and focused on correlating the amount of income with the percentage of time each participant reported as being in a bad mood each day.
It was expected that those who made less than $20,000 a year would spend 32 percent more of their time in a bad mood than those that had an annual income greater than $100,000.
In reality, the low-income group spent only 12 percent more time in a bad mood than their wealthier counterparts. This suggests that the link between income and mood has been perhaps overstated.
The results showed that higher income had less of a correlation with momentary happiness than with overall life satisfaction.
"If people have high income, they think they should be satisfied and reflect that in their answers," said study team member Alan Krueger, an economist from Princeton University. "Income, however, matters very little for moment-to-moment experience."
Krueger and colleagues also looked at data from a Bureau of Labor Statistics survey to see how people in different income brackets spent their time. OTHER STORIES:
Wednesday, 10/29/2008 Tuesday, 10/28/2008 Monday, 10/27/2008 Sunday, 10/26/2008 Tuesday, 05/08/2007
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