Forum for Science, Industry and Business

Sponsored by:     3M 
Search our Site:

 

Do experiences or material goods make us happier?

25.02.2009
Should I spend money on a vacation or a new computer? Will an experience or an object make me happier? A new study in the Journal of Consumer Research says it depends on different factors, including how materialistic you are.

Even though conventional wisdom says choose the vacation, authors Leonardo Nicolao, Julie R. Irwin (both University of Texas at Austin), and Joseph K. Goodman (Washington University, St. Louis) say the answer is more complicated than previously thought.

"Dating as early as David Hume and through Tibor Scitovsky and many others, the sentiment has been that individuals will be happier if they spend their money on experiences (theatre, concerts, and vacations) as opposed to material purchases (fancy cars, bigger houses, and gadgets)" write the authors.

The authors say this advice holds true for purchases that turn out well. But when it comes to negative purchases (a disappointing sofa, a bad vacation), their research shows that experiences decrease happiness more than material goods. "In other words, we show that the recommendation should include a caveat: Purchases that decrease happiness are less damaging when they are material purchases than when they are experiential purchases," the authors explain.

Highly materialistic individuals, the authors found, were equally happy with their positive purchases and equally unhappy with negative purchases whether they were experiences or material goods. The researchers also found that emotional intensity decreases more quickly after material purchases than experiential ones.

Consumers should be especially cautious when choosing among experiences, say the authors, because making a negative choice can lead to lasting unhappiness with the experience. Risky material purchases, on the other hand, are less potentially damaging.

Overall, the authors agree with conventional wisdom: "Given a good probability of a positive experience, our research echoes past research in suggesting that money is well spent on vacations, concerts, amusement parks, and restaurants over comparably priced objects and trinkets," they conclude.

Leonardo Nicolao, Julie R. Irwin, and Joseph K. Goodman. "Happiness for Sale: Do Experiential or Material Purchases Lead to Greater Happiness?" Journal of Consumer Research: August 2009.

Mary-Ann Twist | EurekAlert!
Further information:
http://www.wisc.edu

More articles from Studies and Analyses:

nachricht Do microplastics harbour additional risks by colonization with harmful bacteria?
05.04.2018 | Leibniz-Institut für Ostseeforschung Warnemünde

nachricht Rutgers-led innovation could spur faster, cheaper, nano-based manufacturing
14.02.2018 | Rutgers University

All articles from Studies and Analyses >>>

The most recent press releases about innovation >>>

Die letzten 5 Focus-News des innovations-reports im Überblick:

Im Focus: Writing and deleting magnets with lasers

Study published in the journal ACS Applied Materials & Interfaces is the outcome of an international effort that included teams from Dresden and Berlin in Germany, and the US.

Scientists at the Helmholtz-Zentrum Dresden-Rossendorf (HZDR) together with colleagues from the Helmholtz-Zentrum Berlin (HZB) and the University of Virginia...

Im Focus: Gamma-ray flashes from plasma filaments

Novel highly efficient and brilliant gamma-ray source: Based on model calculations, physicists of the Max PIanck Institute for Nuclear Physics in Heidelberg propose a novel method for an efficient high-brilliance gamma-ray source. A giant collimated gamma-ray pulse is generated from the interaction of a dense ultra-relativistic electron beam with a thin solid conductor. Energetic gamma-rays are copiously produced as the electron beam splits into filaments while propagating across the conductor. The resulting gamma-ray energy and flux enable novel experiments in nuclear and fundamental physics.

The typical wavelength of light interacting with an object of the microcosm scales with the size of this object. For atoms, this ranges from visible light to...

Im Focus: Basel researchers succeed in cultivating cartilage from stem cells

Stable joint cartilage can be produced from adult stem cells originating from bone marrow. This is made possible by inducing specific molecular processes occurring during embryonic cartilage formation, as researchers from the University and University Hospital of Basel report in the scientific journal PNAS.

Certain mesenchymal stem/stromal cells from the bone marrow of adults are considered extremely promising for skeletal tissue regeneration. These adult stem...

Im Focus: Like a wedge in a hinge

Researchers lay groundwork to tailor drugs for new targets in cancer therapy

In the fight against cancer, scientists are developing new drugs to hit tumor cells at so far unused weak points. Such a “sore spot” is the protein complex...

Im Focus: The Future of Ultrafast Solid-State Physics

In an article that appears in the journal “Review of Modern Physics”, researchers at the Laboratory for Attosecond Physics (LAP) assess the current state of the field of ultrafast physics and consider its implications for future technologies.

Physicists can now control light in both time and space with hitherto unimagined precision. This is particularly true for the ability to generate ultrashort...

All Focus news of the innovation-report >>>

Anzeige

Anzeige

VideoLinks
Industry & Economy
Event News

Invitation to the upcoming "Current Topics in Bioinformatics: Big Data in Genomics and Medicine"

13.04.2018 | Event News

Unique scope of UV LED technologies and applications presented in Berlin: ICULTA-2018

12.04.2018 | Event News

IWOLIA: A conference bringing together German Industrie 4.0 and French Industrie du Futur

09.04.2018 | Event News

 
Latest News

Diamond-like carbon is formed differently to what was believed -- machine learning enables development of new model

19.04.2018 | Materials Sciences

Electromagnetic wizardry: Wireless power transfer enhanced by backward signal

19.04.2018 | Physics and Astronomy

Ultrafast electron oscillation and dephasing monitored by attosecond light source

19.04.2018 | Physics and Astronomy

VideoLinks
Science & Research
Overview of more VideoLinks >>>