{"id":4542,"date":"2018-10-27T14:25:37","date_gmt":"2018-10-27T18:25:37","guid":{"rendered":"https:\/\/www.amyork.ca\/academic\/zz\/?p=4542"},"modified":"2018-10-27T15:25:00","modified_gmt":"2018-10-27T19:25:00","slug":"money-and-happiness","status":"publish","type":"post","link":"https:\/\/www.amyork.ca\/academic\/zz\/positive-psychology\/money-and-happiness\/","title":{"rendered":"Money and Happiness"},"content":{"rendered":"<h2>Today\u2019s Goals<\/h2>\n<ul>\n<li>Mini review: Happy people &amp; change<\/li>\n<li>Consider a model of happiness change exercises<\/li>\n<li>Understand how money (income) is correlated with happiness<\/li>\n<li>Become familiar with the Gallup World Poll<\/li>\n<li>Understand how spending can change happiness (or mood)<\/li>\n<li>Consider implications of money &amp; SWB findings<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2>Mini Review<\/h2>\n<ul>\n<li>In the study of very happy people, what factors were necessary or sufficient to be very happy? Necessary but not sufficient (sociability)<\/li>\n<li>Which of the big 5 traits identified very happy people?<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ul>\n<li>What is the \u2018hedonic treadmill\u2019? Always strive to maintain balance<\/li>\n<\/ul>\n<p>Treadmill &#8211; never really get anywhere &#8211; always return to setpoint of happiness<\/p>\n<ul>\n<li>What are arguments (or data) against a strong or classic view of the hedonic treadmill?<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ul>\n<li>What are arguments (or data) supporting the notion of adaptation? Major events + adaptation<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>Major events do impact behaviour, but there is an overall adaptation to them<\/p>\n<p>&nbsp;<\/p>\n<h2>Money &amp; Happiness<\/h2>\n<ul>\n<li>Must keep in mind considerable complexity<\/li>\n<li>Within nation vs. between nations<\/li>\n<li>Components of SWB o Positive emotions o Negative emotions o Satisfaction<\/li>\n<\/ul>\n<p>o (not to mention broader mental health)<\/p>\n<p>Answer could depend on what you mean by happiness<\/p>\n<ul>\n<li>What gets done with money also important<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2>Money Has Diminishing Returns<\/h2>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<h2>GWP: Money &amp; Happiness<\/h2>\n<ul>\n<li>(cf. religion reading next week)<\/li>\n<li>Representative sample of 95% world population (!)<\/li>\n<li>Survey approach<\/li>\n<li>SWB\n<ul>\n<li>PA, NA, \u2018ladder\u2019 satisfaction<\/li>\n<li>social resources (respect, using skills, learning\u2026)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2>GWP Life Satisfaction<\/h2>\n<p>Find that the happiest people live in developed countries<\/p>\n<p>Not an important correlation between all these things<\/p>\n<p>Equality tends to be associated with happiness<\/p>\n<p>&nbsp;<\/p>\n<h2>GWP Major Money Findings<\/h2>\n<ul>\n<li>Money predicts SWB, more for satisfaction o Increasing standard of living increases satisfaction<\/li>\n<li>Feelings more impacted by social resources<\/li>\n<li>National income predicts above individual o It\u2019s nice to live in a rich society o Some, but small, \u2018relative deprivation\u2019 Likely a \u2018world standard\u2019<\/li>\n<li>Rising incomes over time can increase SWB (cf. previous smaller research)<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2>Money &amp; Happiness<\/h2>\n<ul>\n<li>Generally, money has benefits<\/li>\n<li>But, what we do with it important<\/li>\n<li>Consider materialism (&amp; SWB) o <u>Video<\/u>: Kasser &amp; high price of materialism<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2>Pro-social Spending<\/h2>\n<ul>\n<li>Spending money on others seems to facilitate happiness<\/li>\n<li>(cf., other pro-social behaviours)<\/li>\n<li>Initial study in Science o S. survey data<\/li>\n<\/ul>\n<p>o Longitudinally, before\/after bonus \u2018windfall\u2019* o Experimentally ($5 vs. $20; self vs. other)<\/p>\n<ul>\n<li>A \u2018double\u2019 affective forecasting error<\/li>\n<li>Sharing\/giving has similar effects in young o <u>http:\/\/cic.psych.ubc.ca\/Example_Stimuli.html<\/u><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ul>\n<li><em>Oct 7 &#8211; <\/em><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ul>\n<li>Effects observed in much of world o Experiments (India, Uganda, South Africa, Canada Results were similar<\/li>\n<li>Self-Determination Theory as guide<\/li>\n<\/ul>\n<p>Assuming people have these three basic needs that lead to psychological well-being<\/p>\n<ul>\n<li>Relatedness (close vs. distant others)<\/li>\n<li>Competence (specific impact)<\/li>\n<\/ul>\n<p>If it&#8217;s clear, physical, and concrete &#8211; then you feel better about it<\/p>\n<ul>\n<li>Autonomy (choice)<\/li>\n<\/ul>\n<p>Feels better when you&#8217;ve made the decision to do it<\/p>\n<ul>\n<li>Some physiological correlates o \u2018reward\u2019 parts of brain (more in future reading) o Cortisol &amp; shame (when not giving)<\/li>\n<\/ul>\n<p>Cortisol: stress hormone<\/p>\n<p>Habitual + chronic will lead to problems<\/p>\n<p>&nbsp;<\/p>\n<p>Is Money All Good for Happiness?<\/p>\n<ul>\n<li>Less savoring?<\/li>\n<\/ul>\n<p>Indications that having a lot of money\/being exposed to a lot of money diminishes savouring<\/p>\n<ul>\n<li>Correlational &amp; prime study of self-reports<\/li>\n<li>Experimental study of money primes &amp; chocolate eating<\/li>\n<li>Quoidbach, J., Dunn, E. W., Petrides, K. V., &amp; Mikolajczak, M. (2010). Money giveth, money taketh away: The dual effect of wealth on happiness. Psychological Science,21, 759-763.<\/li>\n<\/ul>\n<p>Materialism vs. money<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Today\u2019s Goals Mini review: Happy people &amp; change Consider a model of happiness change exercises Understand how money (income) is correlated with happiness Become familiar with the Gallup World&hellip; <a class=\"continue\" href=\"https:\/\/www.amyork.ca\/academic\/zz\/positive-psychology\/money-and-happiness\/\">Continue Reading<span> Money and Happiness<\/span><\/a><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[116],"tags":[],"_links":{"self":[{"href":"https:\/\/www.amyork.ca\/academic\/zz\/wp-json\/wp\/v2\/posts\/4542"}],"collection":[{"href":"https:\/\/www.amyork.ca\/academic\/zz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.amyork.ca\/academic\/zz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.amyork.ca\/academic\/zz\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.amyork.ca\/academic\/zz\/wp-json\/wp\/v2\/comments?post=4542"}],"version-history":[{"count":0,"href":"https:\/\/www.amyork.ca\/academic\/zz\/wp-json\/wp\/v2\/posts\/4542\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.amyork.ca\/academic\/zz\/wp-json\/wp\/v2\/media?parent=4542"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.amyork.ca\/academic\/zz\/wp-json\/wp\/v2\/categories?post=4542"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.amyork.ca\/academic\/zz\/wp-json\/wp\/v2\/tags?post=4542"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}