3 ms·
Because of the law of diminishing marginal utility as applied to income [1]? Once you hit a certain level of income, other factors can start to outweigh the mar
by pcwalton 8y ago
Because of the law of diminishing marginal utility as applied to income [1]? Once you hit a certain level of income, other factors can start to outweigh the marginal utility of a higher salary.
For example, I could maybe make more money working in high frequency trading, but I don't want to. It wouldn't be a life-changing amount of money, and I value the ability to work on interesting problems in the open, with less concern for ethical issues†, over the potential additional income.
[1]: https://qz.com/1211957/how-much-money-do-people-need-to-be-happy/ https://qz.com/1211957/how-much-money-do-people-need-to-be-h...
†I don't want to start an argument about whether HFT is unethical; in fact, I don't think it is necessarily unethical. I'm just saying it would always be at the back of my mind.