Correlational finding on Happiness and Earlier concern about income
Subject code: I01aa01e

StudyNickerson et al. (2003): study US 1976
TitleZeroing on the Dark Side of the American Dream: A Closer Look at the Negative Consequences of the Goal for Financial Success.
SourcePsychological Science, 2003, Vol. 14, 531 - 536
DOIDOI:10.1046/j.0956-7976.2003.psci_1461.x
PublicStudents USA, followed 20 years 1976-1995-97
SampleNon-probability chunk sample
Non-Response45%
Respondents N =12894

Correlate
Author's labelFinancial Goal
Page in Source 534
Our classificationEarlier concern about income, code I01aa01e
Operationalization
Selfreport on single question:

The importance to you personally of being very well off 
financially?
1: not important
2: somewhat important
3: very important
4: essential
Remarks
Assessed at T1 (1976)

Observed Relation with Happiness
Happiness
Measure
StatisticsElaboration/Remarks
O-SLu-c-sq-v-5-ib=-.04 p < .0001
T1 financial goals by T2 happiness
O-SLu-c-sq-v-5-ib=-.04 p < .0001
B controlled for T2 income

Effect of materialism at T1 on happiness at T2 
diminished to zero at highest income level.


Appendix 1: Happiness measures used
CodeFull Text
O-SLu-c-sq-v-5-iSelfreport on single question:

How satisfied are you with your life these days? Would you say you are
5 very satisfied
4 quite satisfied
3 so so
2 not too satisfied
1 not satisfied at all


Appendix 2: Statistics used
SymbolExplanation
bREGRESSION COEFFICIENT (non-standardized) by LEAST SQUARES (OLS)
Type: test statistic
Measurement level: Correlate: metric, Happiness: metric
Theoretical range: unlimited

Meaning:
b > 0 A higher correlate level corresponds with a higher happiness rating on average.
B < 0 A higher correlate level corresponds with a lower happiness rating on average.
B = 0 Not any correlation with the relevant correlate.
Source:
Ruut Veenhoven, World Database of Happiness, Collection of Correlational Findings, Erasmus University Rotterdam.
https://worlddatabaseofhappiness.eur.nl