Oswald, Andrew J. - Institute for the Study of Labor (IZA) - 2008
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Keywords: money, diminishing marginal utility, height, concavity
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Andrew J. Oswald …
Powdthavee (2005) document some evidence of concavity in income. By using cohort
data, Easterlin (2005) has raised one set of … (1) twice, we obtain, of course
2
)()()()()( yhhryhhryR ′′′+′′′=′′ (3)
and thus concavity of reported happiness in …