Thesis topic proposal
Gergely Tóth
Marginal value of money in increasing happiness


Institute: Hungarian University of Agriculture and Life Sciences, Gödöllő
business and management
Doctoral School of Management and Organizational Science

Thesis supervisor: Gergely Tóth
Location of studies (in Hungarian): MATE - Kaposvári Campus
Abbreviation of location of studies: MATE

Description of the research topic:

The most crucial question of modern well-being economics is the correlation between money and life satisfaction. The first well-known researcher of the topic was Richard Easterlin, who found that in the USA since 1946, higher income was not systematically accompanied by greater happiness (Easterlin, 1974).
Modern psychology and subjective happiness research provides evidence for the old saying: money does not buy happiness. Objective happiness research seems to show contrary results: people are happier in developed countries. If we look more precisely, the case is not so clear: we can find poorer countries with high happiness values, and of course the unhappy rich. International research defines the limit of money’s positive impact on happiness between 20-40 thousand USD per capita GDP. Some find it much lower (Csutora & Zsóka, 2012; Csutora & Zsóka, 2014), some much higher (Kahneman and Deaton 2010). The happiness model of Luigino Bruni explains that our individual happiness has two drivers: consumptional and relational goods (Bruni and Porta 2007).
In this research we first employ systematic literature review to search for any empirical study with an estimation of where material wealth does not support individual happiness any more. Second we use secondary data from international happiness surveys to detect correlation, inflexion point, other factors. Third we plan individual research with a sample of at least 1000 individuals.

Required language skills: angol
Number of students who can be accepted: 1

Deadline for application: 2022-05-31

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