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Happiness versus cash: Which would you choose?
Social status, wealth and family happiness tended to outrank personal happiness according to a new study.

By

Remy Melina, LiveScience
Fri, Sep 30 2011 at 12:06 PM

Related Topics:

Economics
Businesswoman with money

Photo: ZUMA Press

Given the choice, most people would take a high-paying job with longer work hours over a good-paying job with reasonable demands on their time, a new study shows.
 
In fact, most of the study participants said they'd choose a high-paying job even if it only permitted them to get six hours of sleep a night and would bring them less happiness overall, the researchers said.
 
In the study, 2,699 participants were asked to consider a variety of scenarios: One scenario involved choosing between a job that paid $80,000 a year with reasonable work hours that would permit 7.5 hours a night of sleep, or a higher-paying$140,000-a-year job with long work hours and time for only six hours of sleep. Participants were also asked questions about which option they thought would make them happier.
 
Despite the probability that the less-demanding, lower-paying job would allow them more sleep,  free time and make them happier overall, participants tended to choose the higher-paying job.
 
In another scenario, participants had to choose between two options: a salary of 20 percent less than their current salary that would mean a move to the city where your friends live; and a salary of 10 percent more than their current salary that would mean a move to a city where you don't know anyone.
 
"We found that people make trade-offs between happiness and other things," study researcher Alex Rees-Jones, an economics doctoral student at Cornell, said in a statement. "For example, they explicitly told us in the free response sections that they would be happier one way, but their family would be happier if they took higher-paying options."
 
The findings suggest happiness may not be a person's main goal in life. "You might think of happiness as the ultimate goal that people pursue, but actually, people think of goals like health, family happiness, social status and sense of purpose as sometimes competing with happiness," Rees-Jones said.
 
When asked whether they would regret any cases where they had a discrepancy between their choice and well-being, 23 percent of participants said yes, with the vast majority saying no. In addition, only 7 percent of participants said they were making a mistake in their choices.
 
"Overall, this indicates that many are willing to pursue a course that sacrifices happiness in favor of other important goals," said Rees-Jones. "These respondents seem to indicate that maximizing happiness was not perceived to be in their own best interest."
 
The study will be published in a forthcoming issue of the journal American Economic Review.
 
You can follow LiveScience writer Remy Melina on Twitter @remymelina. Follow LiveScience for the latest in science news and discoveries on Twitter @livescience  and on Facebook.
 
Related on LiveScience:
  • 5 Keys to Happiness
  • 10 Things You Didn't Know About You
  • Understanding the 10 Most Destructive Human Behaviors

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starbuck
Starbuck Oct 03 2011 at 5:59 PM
The information in this article strikes me as somewhat bizarre, but not unexpected. Firstly, it should be noted that for many Americans, there really is no choice to make. People who do the least gratifying work of keeping this country chugging along also earn the lowest wages. They cannot afford to value their happiness over their financial security. And yet, they actually have no real financial security. It all depends on the next paycheck. And no guarantees for the paycheck after that. For Americans
.... More
who are so privileged as to have a choice - more money or more happiness - the more money option seems to me to be somehow deceptive. The sentence that sums it all up: "You might think of happiness as the ultimate goal that people pursue, but actually, people think of goals like health, family happiness, social status and sense of purpose as sometimes competing with happiness," Rees-Jones said. Of these apparently happiness-slaying goals, the only one that money alone can actually provide is social status. Beyond that, the notion that "sense of purpose" actually competes with happiness is confounding. One way to come at this is to turn the whole discussion on its head: consider the value of your life if you were independently wealthy, but had no sense of purpose. You are rich in both money and time. You don't need to choose. You can have it all. But minus any sense of purpose, it is doubtful that you will experience genuine happiness. In some mysterious way, your happiness is compromised for . . . nothing. I think two things are possible. One, you may work long hard hours for low pay and no job security and still experience happiness because you do have a sense of purpose - that purpose being to provide the best that you can for your family. The other possibility is that you may work long hard hours for excellent pay and still have a sense of purpose - that purpose being to provide the best that you can for your family. In either case, you do achieve some happiness because you are meeting the fundamental human needs: food, shelter, clothing, AND sense of purpose. Maybe I'm just trying to say that our view of ourselves may be much less than 20/20 when the dominant social construct admits to only one model of success. If you believe that you can thrive, albeit unhappily, without a sense of purpose, try to imagine living from here on without whatever it is that gets you out of bed, willing to face another day each morning. Your sense of purpose will pop right into focus. Whether or not it is what you want it to be is, I suppose, another question entirely.
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