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 …
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Van Boven, L., &Gilovich, T. (2003). To Do or to Have? That Is the Question. Journal of Personality and Social Psychology, 85(6), 1193-1202.
Do experiences make people happier than material possessions? In two surveys, respondents from various demographic groups indicated that experiential purchases-those made with the primary intention of acquiring a life experience–made them happier than material purchases. In a follow-up laboratory experiment, participants experienced more positive feelings after pondering an experiential purchase than after pondering a material …
Nicolao, L., Irwin, J. R., &Goodman, J. K. (2009). Happiness for sale: Do experiential purchases make consumers happier than material purchases?. Journal of consumer research, 36(2), 188-198.
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 …
DeLeire, T., &Kalil, A. (2010). Does consumption buy happiness? Evidence from the United States. International Review of Economics, 57(2), 163-176.
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 …
Van Boven, L., Campbell, M. C., &Gilovich, T. (2010). Stigmatizing materialism: On stereotypes and impressions of materialistic and experiential pursuits.
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 …
Carter, T. J., &Gilovich, T. (2012). I am what I do, not what I have: The differential centrality of experiential and material purchases to the self.
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 …
Ashraf, N., Karlan, D., &Yin, W. (2010). Female empowerment: Impact of a commitment savings product in the Philippines. World development, 38(3), 333-344.
Female “empowerment” has increasingly become a policy goal, both as an end to itself and as a means to achieving other development goals. Microfinance in particular has often been argued, but not without controversy, to be a tool for empowering women. Here, using a randomized controlled trial, we examine whether access to and marketing of …
Soman, D., &Liu, M. W. (2011). Debiasing or rebiasing? Moderating the illusion of delayed incentives.Journal of Economic Psychology, 32(3), 307-316.
This paper studies corrective strategies for the illusion of delayed incentives (Soman, 1998), the phenomena that money-for-effort transactions that are unattractive in the present appear attractive when they are in the future. This illusion occurs because future effort is discounted more heavily than future monetary outcomes. In this research, we show that this bias of …
Dunn, E. W., Wilson, T. D., &Gilbert, D. T. (2003). Location, location, location: The misprediction of satisfaction in housing lotteries. Personality and Social Psychology Bulletin, 29(11), 1421-1432.
People tend to overestimate the emotional consequences of future life events, exhibiting an impact bias. The authors replicated the impact bias in a real-life context in which undergraduates were randomly assigned to dormitories (or “houses”). Participants appeared to focus on the wrong factors when imagining their future happiness in the houses. They placed far greater …
Bucchianeri, G. W. (2011). The American Dream or the American Delusion? The Private and External Benefits of Homeownership for Women. working paper, University of Pennsylvania.
This paper uses a unique data set with housing consumption, well-being measures and time use patterns to explore the implications of homeownership. After controlling for income, housing quality and health, female homeowners are not better off than renters by a variety of measures, both global and situational. Instead, they derive significantly more pain from their …