According to whom? The research I've seen on this confirms Bernoulli's intuition that happiness scales with the logarithm of income.
Sure, the logarithm is slowly varying in the limit, but that seems like a very unusual definition of both "beyond some amount" and "absolute amount stops mattering."
Sure, the logarithm is slowly varying in the limit, but that seems like a very unusual definition of both "beyond some amount" and "absolute amount stops mattering."