Sadder, But Not Wiser: the Myopia of Misery

Jennifer S. Lerner, Harvard University, USA
Ye Li, Columbia University, USA
Elke Weber, Columbia University, USA
Three incentived experiments tested whether sadness increases impatience in intertemporal choices (consuming now versus later). Results reveal that sadness increases impatience in intertemporal decisions even when the emotion is irrelevant to the choice, but only when one of the options provides immediate rewards. Thus, sadness makes people more “present biased.”
[ to cite ]:
Jennifer S. Lerner, Ye Li, and Elke Weber (2012) ,"Sadder, But Not Wiser: the Myopia of Misery", in NA - Advances in Consumer Research Volume 40, eds. Zeynep Gürhan-Canli, Cele Otnes, and Rui (Juliet) Zhu, Duluth, MN : Association for Consumer Research, Pages: 1065-1066.