Interesting study in the OP, but too conventional.

IMO the people who are not happy with nothing won't be happy with everything neither. Yesterday I went for a walk with a friend of mine when suddenly an old indigent with some Gandalf beard appeared on a rusty bike, with his dog running full throttle, and Deep Purple max volume. You can imagine the scene, epic.

I don't think many people on a Ferrari and a bimbo would be much happier than him. Somebody should measure it scientifically but I would be surprised if the man in the expensive car won. Happiness is subjective and with the proper self control I think that you can modulate it, even when consumer society has teached us otherwise for decades.