Hedonics in Consumer Behavior
Christopher K. Hsee
University of Chicago - Booth School of Business
Claire I. Tsai
University of Toronto - Joseph L. Rotman School of Management
July 24, 2007
HANDBOOK OF CONSUMER PSYCHOLOGY, C. P. Haugtvedt, P. M. Herr, and F. R. Kardes, eds., PP. 639-658, Mahwah, NJ: Erlbaum, 2008
To maximize happiness, one could either improve desired external outcomes (e.g., wealth) or optimize the relationship between desired external outcome and happiness without improving the outcome per se. Economics focuses on the first method. The present chapter advocates a science about the second method, which we term hedonomics. With its objective to help individuals, including consumers and policymakers, make decisions that maximize their happiness with external outcomes, hedonomics focuses on the relationships (a) between external outcomes and happiness, and (b) between decision and happiness.
Number of Pages in PDF File: 20
Keywords: Subjective Well-Being, Consumption Experience, Behavior Decision Research, Hedonomics
JEL Classification: D81, D11, D12, D91Accepted Paper Series
Date posted: August 29, 2010 ; Last revised: September 2, 2010
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