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7-67 Sadness and spending- The amp;misery is not miserlyamp; phenomenon refers to a person's spending judgment going haywire when the...
7.67 Sadness and spending. The "misery is not miserly" phenomenon refers to a person's spending judgment going haywire when the person is sad. In a study, 31 young adults were given $ 10 and randomly assigned to either a sad or a neutral group. The participants in the sad group watched a video about the death of a boy's mentor (from The Champ), and those in the neutral group watched a video on the Great Barrier Reef. After the video, each participant was offered the chance to trade $ 0.50 increments of the $ 10 for an insulated water bottle. 33 Here are the data:
