Possessions Don't 'Buy Happiness': Here's Why

The luster of money and expensive objects may be temporarily entertaining, but they won't bring us happiness, according to recent findings.

When it comes to satisfaction, experiences are what really count.

Researchers from Cornell University in Ithaca, NY, and the University of California, San Francisco, investigated whether the enjoyment we get from the anticipation of a purchase depends on what we're buying.

Here's what they discovered: those thinking about impending experimental purchases have higher levels of happiness than those who actually anticipate spending money on things. Furthermore, researchers found that the act of waiting in line to spend money on an experience may be more pleasurable than waiting in line to purchase an object.

"You sometimes hear stories about people rioting, smashing windows, pepper-spraying one another, or otherwise treating others badly when they have to wait," said study author Amit Kumar of Cornell University, in a news release. "Our work shows that this kind of behavior is much more likely in instances where people are waiting to acquire a possession than when they're waiting for tickets to a performance or to taste the offerings at their city's newest food truck."

But why does this happen?

Researchers speculate that several factors explain the pleasurable anticipation of experiencing abstract things or ideas. Perhaps they bring more significance than ordinary objects, despite expense or lure?

Researchers also predict that anticipating experiences as opposed to the purchase of a coveted object may confer greater social benefits, making individuals feel more connected and in-tune with society, overall.

"Our research is also important to society because it suggests that overall well-being can be advanced by providing an infrastructure that affords experiences - such as parks, trails, beaches - as much as it does material consumption," concluded psychology researcher and study author Thomas Gilovich of Cornell University.

More information regarding the findings can be seen via the journal Psychological Science.