Would you be happier if you were richer? A focusing illusion
Kahneman and colleagues argue that the widespread belief that higher income goes with a better mood is largely an illusion. Above-average earners are relatively satisfied with their lives but only slightly happier in moment-to-moment experience, tend to be more tense and do not spend notably more time on especially enjoyable activities. The effect of income on life satisfaction appears to be temporary, and the authors explain the belief by saying that people judging their own or others' lives focus partly on conventional achievements.
Kahneman and colleagues argue that the widespread belief that higher income goes with a better mood is largely an illusion. Above-average earners are relatively satisfied with their lives but only slightly happier in moment-to-moment experience, tend to be more tense and do not spend notably more time on especially enjoyable activities. The effect of income on life satisfaction appears to be temporary, and the authors explain the belief by saying that people judging their own or others' lives focus partly on conventional achievements.
Written from the abstract read 2026-10-27 via OpenAlex.
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Kahneman, D., Krueger, A. B., Schkade, D., Schwarz, N., & Stone, A. A. (2006). Would you be happier if you were richer? A focusing illusion. Science, 312(5782), 1908-1910. doi:10.1126/science.1129688