Happiness for Sale: Do Experiential Purchases Make Consumers Happier than Material Purchases?
AbstractPrevious 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 positively, experiential purchases lead to more happiness than do material purchases, as the experience recommendation suggests. However, for purchases that turned out negatively, experiences have no benefit over (and, for some types of consumers, induce significantly less happiness than) material possessions. We provide evidence that this purchase type by valence interaction is driven by the fact that consumers adapt more slowly to experiential purchases than to material purchases, leading to both greater happiness and greater unhappiness for experiential purchases.
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Bibliographic InfoArticle provided by University of Chicago Press in its journal Journal of Consumer Research.
Volume (Year): 36 (2009)
Issue (Month): 2 ()
Pages: 188 - 198
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Web page: http://www.journals.uchicago.edu/JCR/
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- Sabatini, Fabio, 2011.
"Can a click buy a little happiness? The impact of business-to-consumer e-commerce on subjective well-being,"
32393, University Library of Munich, Germany.
- Fabio Sabatini, 2011. "Can a click buy a little happiness? The impact of business-to-consumer e-commerce on subjective well-being," EERI Research Paper Series EERI_RP_2011_12, Economics and Econometrics Research Institute (EERI), Brussels.
- Sabatini Fabio, 2011. "Can a click buy a little happiness? The impact of business-to-consumer e-commerce on subjective well-being," wp.comunite 0076, Department of Communication, University of Teramo.
- Ryan Howell & Mark Kurai & Leona Tam, 2013. "Money Buys Financial Security and Psychological Need Satisfaction: Testing Need Theory in Affluence," Social Indicators Research, Springer, vol. 110(1), pages 17-29, January.
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