Monday, February 23, 2009

How to Choose Between Experiential and Material Purchases

That's a pretty cryptic title, but I think anyone could find something fascinating in the PsyBlog article I came across the other day. Turns out that buying experiences make us happier than buying stuff. I had read about that before, and it certainly rings true to me. The kicker in this article is that they've also studied what happens when purchases go bad (both experiences and stuff) -- turns out that people have more buyer's remorse over bad experiences than bad stuff, and goes into some of the reasons.


Anonymous said...

Interesting stuff Jer. I read the article over a couple of times to really understand it. I can say that in my case, as a rule, I make very few unnecessary purchases thus avoiding disappointment with the purchase. Ex. Shoes: I will buy quality over fad. Auto parts: Been disappointed lately over quality now being more selective, no Chinese crap anymore, I will pay more and get quality. As they say:" quality and perfection are rarely included in the lowest price".
Lately we have been to concerts at the Park Theatre to totally unknown, to us, bands and it has been fantastic, so no disappointment there.
One's outlook on life plays a role in this as well I believe. Some people are really difficult to please while others find a positive in any experience.
Great topic.
PS: I see the Habs beat(blanked) the Canucks tonight, maybe the Russian brothers in Mt.l. skipped on the peelers tonight.


Jeremy said...

Glad you liked it U.Jean. There's another category of purchases that is sort of in between these two categories: things that primarily help you have good experiences. I'm thinking things like tools, photo gear, music, bikes...maybe they're not that different from regular "stuff", but they're so important to me as the price of admission for good experience.

And yes, I suspect Montreal is better than their recent record, and will probably turn things around...and also that the Canucks aren't as good as their recent record. At the end of a road trip where they'd won the first three on the trip, it was extrememly unlikely that they'd beat the habs. Although outshooting them 34-17 should have been good enough!