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Morendil comments on How To Have Things Correctly - Less Wrong
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Better reading: "If money doesn't make you happy, then you probably aren't spending it right", Dunn et al 2011, Journal of Consumer Psychology
See also.
Klevador's post is a pretty fantastic review of the literature. It's too bad he's been gone since April; I would have liked to see more from him (perhaps his experiences trying to implement recommendations?).