Authors: Swee Hoon Ang Elison Ai Ching Lim Siew Meng Leong Zhaonan Chen
Publish Date: 2014/06/27
Volume: 122, Issue: 1, Pages: 87-103
Abstract
Using an experiment this study examines how happiness towards and evaluation of experiential and material purchases are affected by mindset and comparison alternatives When primed with a mental subtraction mindset people became happier with their material purchases and evaluated such purchases more positively however those who had acquired experiences did not report significant increases in happiness or purchase evaluations In contrast when people did not engage in mental subtraction recollection of purchase details did not enhance associated happiness for both material and experiential purchases We also found that relative to experiences material purchases induced greater increases in happiness in the presence of inferior alternatives When comparing purchases with superior alternatives happiness declined significantly regardless of the type of purchase Further such decrements in happiness were more dramatic for material purchases than experiences Collectively this research suggests that happiness with material goods can increase over time with the appropriate mental strategies ie mental subtraction and comparison against inferior alternativesWe dedicate this paper to Siew Meng Leong with whom we enjoyed many happy moments and laughter Siew Meng taught us that lasting happiness comes from having had a trusted friend and mentor whose optimism and generous spirit continue to inspire us today
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