While the concept of “expected utility” informs many theories of decision making, little is known about whether and how the human brain might compute this quantity. This article reviews a series of functional magnetic resonance imaging (FMRI) experiments designed to localize brain regions that respond in anticipation of increasing amounts of monetary incentives. These studies collectively suggest that anticipation of increasing monetary gains activates a...

This article examines the role of motivational factors in affective forecasting. The primary hypothesis was that people predict positive emotional reactions to future events when they are motivated to enhance their current feelings. Three experiments manipulated participants' moods (negative vs. neutral) and orientation toward their moods (reflective vs. ruminative) and then assessed the positivity of their affective predictions for future events. As hypothesized, when participants...

The ability to project oneself into the future has previously been found to be related to happiness and anxiety. The purpose of the present study was to investigate the causal effect of deliberate mental time travel (MTT) on happiness and anxiety. More specifically, we address whether purposely engaging in positive, negative, or neutral future MTT would lead to different levels of happiness and anxiety. Results...

The present research tested the proposition that nostalgia serves an existential function by bolstering a sense of meaning in life. Study 1 found that nostalgia was positively associated with a sense of meaning in life. Study 2 experimentally demonstrated that nostalgia increases a sense of meaning in life. In both studies, the link between nostalgia and increased meaning in life was mediated by feelings of...

Individuals who are low (compared with high) in attachment-related avoidance rely on social bonds to regulate distress, and the authors hypothesized that nostalgia can be a repository of such social connectedness. Studies 1–3 showed a positive association between loneliness and nostalgia when attachment-related avoidance was low, but not when it was high. Study 4 revealed that low-avoidance individuals derived more social connectedness from nostalgia than...

We present five studies supporting our strategic memory protection theory. When people make decisions about experiences to consume over time, they treat their memories of previous experiences as assets to be protected. The first two studies demonstrate that people tend to avoid situations that they believe will threaten their ability to retrieve special (rather than merely pleasant) memories. The next three studies demonstrate that people...

What kinds of purchases do the most to make us happy? Previous research (Carter & Gilovich, 2010; Van Boven & Gilovich, 2003) indicates that experiences, such as vacations and concerts, are more likely to do so than material possessions, such as clothes and electronic gadgets. The present research was designed to explore 1 potential explanation for this result, namely, that experiences tend to be more...

Five studies examined the stigmatization of materialism. Participants expressed negative stereotypes of materialistic people, considering them to be more selfish and self-centered than experiential people (Study 1). Participants also viewed materialistic pursuits as more extrinsically motivated than experiential pursuits (Study 2). These stereotypes led respondents from varied demographic backgrounds to form less favorable impressions of individuals who were associated with prototypically materialistic versus experiential purchases,...

We examine the association between various components of consumption expenditure and happiness in the Health and Retirement Study (HRS), a nationally representative sample of older Americans. We find that only one component of consumption is positively related to happiness—leisure consumption. In contrast, consumption of durables, charity, personal care, food, health care, vehicles, and housing are not significantly associated with happiness. Second, we find that leisure...

Previous theories have suggested that consumers will be happier if they spend their money on experiences such as travel as opposed to material possessions such as automobiles. We test this experience recommendation and show that it may be misleading in its general form. Valence of the outcome significantly moderates differences in respondents’ reported retrospective happiness with material versus experiential purchases. For purchases that turned out...