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In 2010 Angus Deaton and Daniel Kahneman at Princeton University tried to quantify the relationship of money to happiness using a year-long Gallup survey that resulted in a massive dataset of 450,000 daily responses from a nationally representative sample of one thousand people.

Deaton and Kahneman showed that in the United States, $75,000 seemed to be a kind of magic number at that time. Once a household income was more than $75,000 per year, which was close to the average family income in the U.S. at the time of the study, the amount of money that people earned showed no clear relationship to daily reports of enjoyment and laughter, which were used as indicators of emotional well-being.