their lives. Much of the early research concluded that the role of income in determining well-being was limited, and that … only income relative to others was related to well-being. In this paper, we review the evidence to assess the importance of … absolute and relative income in determining well-being. Our research suggests that absolute income plays a major role in …

the relationship between subject well-being and income observed within countries. Finally, examining the relationship … between changes in subjective well-being and income over time within countries we find economic growth associated with rising … happiness. Together these findings indicate a clear role for absolute income and a more limited role for relative income …

eroded, and the gender happiness gap has disappeared entirely. Paralleling changes in the income distribution, differences in … unwound. Juxtaposing these changes with large rises in income inequality suggests an important role for non-pecuniary factors …