[microarchitect]

I'm not disagreeing with anything you said but my understanding of the studies that rkalla is talking about is that the extra $$$ won't make your life significantly better so you'd be willing to forgo that money for "better" (I'm being intentionally vague here) work. Obviously, in the situation you're referring to the extra money makes a big difference in quality of life.

Perhaps you're suggesting that there are no cases where this is true? (i.e., one will always be happier with the extra $$$).