Does Money Buy Economic Value Or Happiness?

Kelly Kiyeon Lee, Oklahoma State University, USA
Min Zhao, University of Toronto, Canada
Ying Zhao, Hong Kong University of Science and Technology
We find that when money is highlighted (vs. not), consumers tend to choose more consumption units than what they are actually able to consume because money prompts consumers to think about the economic value of consumption. However, consuming more does not enhance happiness. Rather, it decreases consumers’ well-being and enjoyment.
[ to cite ]:
Kelly Kiyeon Lee, Min Zhao, and Ying Zhao (2015) ,"Does Money Buy Economic Value Or Happiness?", in NA - Advances in Consumer Research Volume 43, eds. Kristin Diehl and Carolyn Yoon, Duluth, MN : Association for Consumer Research, Pages: 605-606.