Consumer Well-Being and Happiness

Abstract

The products and services people consume can contribute to their happiness and well-being. In fact, many societal problems—such as chronic diseases, suboptimal financial decisions, and environmental pollution—are related to consumption activities. Thus, there is a need to understand, and to develop better models to explain, how individuals make consumption decisions, especially those decisions that have an important impact on their well-being. This chapter includes an analysis of how consumption activities can influence consumer happiness. Specifically, it addresses the question of whether it is possible for consumers to increase their happiness through consumption activities. Research has shown that experiences make people happier than material possessions.