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However, consumption effect tells us that more consumption of good and services will increase happiness. At least to a degree, we see that money can buy happiness. But what, if anything, does research on consumer satisfaction tell us about the relationship between happiness and the concepts of utility and marginal utility?
Based on the research, I found that money does not increase the happiness because as income increases the one??s behavior of preferences or satisfaction changes and will result in diminishing marginal utility.
Sociologist and psychologist would say based on the definition of marginal utility, when additional satisfaction obtained from consuming one additional unit of a good, the one??s happiness will increase as their income rises...
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