When Comparing Leads to Foolish Financial Choices

"Alan Greenspan, in his book The Age of Turbulence, reports the results of an interesting study of Harvard graduate students. The students were asked if they would be happier making $50,000 per year if their peers earned only $25,000, or earning $100,000 per year while their peers earned $200,000. Surprisingly, a majority thought they would be happier earning the lower income if it was more than their peers, rather than earning twice as much, but less than their classmates"

Read the full article here: MicawberPrinciple.com

------- [Photo cred: Kamyar Adl]