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Abstract The Easterlin paradox suggests that while higher income correlates with greater subjective well-being (SWB) cross-sectionally, rising incomes over time fail to yield increased SWB. Traditional explanations, focused on social comparison and hedonic adaptation, often neglect individual variability and dynamic social structures. Using an agent-based model (ABM) that incorporates heterogeneity and social relationships, we uncover several key insights.
As a journalist, you can create a free Muck Rack account to customize your profile, list your contact preferences, and upload a portfolio of your best work.