"peers", exactly. The same effect occurs locally too (friends, neighbours, colleagues, people you went to school with, etc...) and not just with money, but all

"peers", exactly. The same effect occurs locally too (friends, neighbours, colleagues, people you went to school with, etc...) and not just with money, but all indicators of status. There's an interesting book by Alain de Botton called Status Anxiety that basically argues how increased opportunity can increase anxiety (which is roughly the inverse of happiness).