Quoidbach, J., Dunn, E. W., Petrides, K. V., &Mikolajczak, M. (2010). Money giveth, money taketh away: The dual effect of wealth on happiness. Psychological Science, 21(6), 759-763.
This study provides the first evidence that money impairs people’s ability to savor everyday positive emotions and experiences. In a sample of working adults, wealthier individuals reported lower savoring ability (the ability to enhance and prolong positive emotional experience). Moreover, the negative impact of wealth on individuals’ ability to savor undermined the positive effects of money on their happiness. We experimentally exposed participants to a ...