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Torben comments on Open Thread June 2010, Part 2 - Less Wrong
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One variable often invoked to explain happiness in Denmark (who regularly rank #1 for happiness) is modest expectations.
ETA: the above paper seems a bit tongue-in-cheek, but as I gather, the results are solid. Full disclosure: I'm from Denmark.
Awesome coincidence. I am going to travel to Denmark next week for 10 days. Will check it out myself!