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There was a paper on the psychological effects, i.e. net negative effects on happiness not too long ago [1], I think it was posted on HN a while back. Haven't read it though so I can't comment on the specific findings and the quality.

If anyone has any literature on the other effects mentioned by the parent, I'd be highly interested as well.

1. https://warwick.ac.uk/fac/soc/economics/research/centres/cag...

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