The little joys of life: Spending money to buy experiences makes people happy

  • IANS, New York
  • Updated: Sep 04, 2014 13:27 IST

Spending money doing things or buying experiences makes people feel a lot more happier than spending money on material things, a study says.

For the study, authors from Cornell University, University of California-Berkeley and University of California-San Francisco built on previous research on the joys of experiential purchases.

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They used questionnaires involving a variety of planned purchases.

During the study, college students had to think about a purchase they were about to make- either an experience or an item - and report how they felt waiting.

People waiting for an experience were more excited than those waiting for an object, researchers noted.

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They also found that people waiting in lines for an experience - like a live show - were more thrilled than those waiting to buy a product.

"Consumers derive value from anticipation, and that value tends to be greater for experiential than for material purchases," the authors concluded in a paper appeared in the journal Psychological Science.

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