Article1991

Evaluations of pairs of experiences: A preference for happy endings

208 citations0/0 files storedJournal of Behavioral Decision Making

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Decision-Making and Behavioral Economics Psychological Well-being and Life Satisfaction Experimental Behavioral Economics Studies

Abstract

Abstract Experiences often consist of a number of temporally separated events or outcomes, events which might be positive or negative. Building on previous research, the present paper proposes that the chronological order of the component events influences overall evaluations of these experiences. In particular, a preference for happy endings is hypothesized such that an experience consisting of a positive and a negative event is evaluated as more satisfactory if the positive event occurs last. This preference is examined in three studies in a variety of contexts. A preference for happy endings is shown to influence people's preferences, even to the extent of influencing preferences for segregated versus integrated events (Thaler, 1985). The implications of a preference for happy endings for decision researchers are also explored.

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References

1979Prospect Theory: An Analysis of Decision under Risk 1988Prospect theory: An analysis of decision under risk 1980A Cognitive Model of the Antecedents and Consequences of Satisfaction Decisions 1985Mental Accounting and Consumer Choice 2014Handbook of Social Cognition 2008Mental Accounting and Consumer Choice 1986Norm theory: Comparing reality to its alternatives.1955Myopia and Inconsistency in Dynamic Utility Maximization

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