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 …

-consistent, and decreases welfare otherwise. We find that the long-term cost-benefit prudence is fundamentally about income transfers … to the future, implying that efficient behavioral rules should target savings directly rather than the division of …