Wow, that's sneaky indeed. The writer of the article doesn't seem to realize.
"If extra income didn't matter for well-being, you'd expect the line to flatten. Instead, it steepens."
Yeah, a log scale on the x axis will do that...
"If extra income didn't matter for well-being, you'd expect the line to flatten. Instead, it steepens."
Yeah, a log scale on the x axis will do that...
Tucked away in a footnote in the paper: "We should add a caveat, that this inference of 'diminishing marginal well-being' requires taking a stronger stand on the appropriate cardinalization of subjective well-being (Oswald 2008)." You say caveat, I say giant ontological turd hitting the fan...