Money really does buy happiness for most people, researchers say

• A new study seems to contradict the theory that happiness eventually plateaus as wealth rises.
• It found that for the vast majority of people, money does buy you happiness.
• For a small group of people, their happiness levels off "abruptly" when their income hits $100,000.

For the vast majority of people, money does buy you happiness – according to a new study at least.

However, not everyone gets happier as their income increases, according to the paper authored by senior psychology fellow Matthew Killingsworth at the University of Pennsylvania's Wharton School, Nobel Prize-winning psychologist Daniel Kahneman, and Barbara Mellers.