The general assumption in economics as well as psychology is that most people will make decisions based on their notion of what makes them happiest. But a new Cornell University study that shows that people are willing to compromise their happiness for monetary gain.
The study, to be published by the American Economic Review, asked participants to choose between two hypothetical scenarios and then evaluate whether their choice would make them happy.
When I ask people how they are, one of the most frequent responses I hear is “busy.” And that’s probably because our culture places a high value on productivity. “I’m busy” is code for “My life matters.”
But what is the cost of “busy”? Sometimes people get so caught up in preparing for tomorrow’s success that they forget to invest in what makes life meaningful right now.
For instance, when did you last experience wonder? (more…)
Everywhere you look today, you find the promises: If you just had that car, that house—or even that spouse—you would be happier.
It’s the premise of almost all advertising.
Intellectually, we know it’s not true. Think about it. How will adding a leather interior to the options list on that new car substantially improve your happiness?
It won’t. But despite that realization, we fall for such promises every day. We allow ourselves to believe, if only for an instant, that purchasing a new sofa or watch or flat-screen television will add to our happiness quotient. (more…)
All parents want their children to become successful, but how do you define success?
Is it wealth and fame? Is it the ability to form meaningful relationships with others and make wise choices in life?
Most important, how do we help our children become happy, healthy adults?
Many of us learned early in life that true happiness goes beyond being “rich and famous.” (more…)