Reference no: EM133328754

Case Study: Many people believe that money can't buy happiness. However recent research suggests that that may not be completely true; it depends how it's spent. A study from the Proceedings of the National Academy of Sciences found that money spent on material things does not increase happiness; however, money spent on services such as house cleaning or lawn care can boost happiness slightly. 60 adults in the experiment were given $40 cash on two occasions and asked to spend it in a different way each time. The first time, they were asked to spend it on a service which would give them more free time. The second time, they were told to make a material purchase within the budget. After each purchase, they reported on their positive and negative emotions. They reported more positive emotion after the time-saving service purchase. A separate part of the study examined how much impact the purchase of these services can have on a person's happiness. A survey was completed by respondents at various income levels. Those who spent money to "buy time" reported approximately 10% higher on a happiness scale. Several psychologists and other researchers who have examined the results suggest that while the information is exciting, it will require closer inspection to understand more accurately the relationship between money spent on time-saving services and overall happiness.

Questions: 1. If you could eliminate a chore from your life by spending money on a service, which would it be? Why?

Questions: 2. Do you believe that people are happier in countries where it is more affordable to pay for time-saving services? Why or why not?

Questions: 3. Can material purchases sometimes bring a person an increase in happiness? Why or why not?