Elizabeth Dunn, a social psychology professor and author of 'Happy Money,' delves into the science behind happiness. She exposes the replication crisis in happiness studies, challenging the effectiveness of popular strategies like meditation and exercise. Dunn highlights unique findings, showing that spending money on time-saving services can boost happiness more than material goods. She emphasizes the importance of tailored approaches to well-being, shaped by individual personality traits, and discusses the emotional fulfillment of generosity.
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insights INSIGHT
Happiness Strategies Lack Strong Evidence
Many popular happiness strategies lack strong evidence of general effectiveness.
These include spending time in nature, meditation, and exercise for average people.
insights INSIGHT
Small Sample Sizes in Past Research
Behavioral science now requires larger sample sizes for reliable results, unlike the past.
Small samples make studies hard to replicate, leading to a 'replication crisis'.
question_answer ANECDOTE
Study on Seeing the Future
A study claiming people could see the future highlighted flaws in research practices.
This triggered a 'replication crisis' and push for better scientific standards.
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In this book, Elizabeth Dunn and Michael Norton explain how money can buy happiness if spent according to five core principles. These principles include buying experiences over material goods, making purchases a treat, buying time, paying now and consuming later, and investing in others. The authors draw on cutting-edge research in behavioral science to show how these principles can be applied by individuals and companies to create happier employees and customers. They also highlight how companies like Google, Pepsi, and Charmin have implemented these ideas successfully.
Happy Money
The Science of Happier Spending
Michael Norton
Elizabeth Dunn
In this book, Elizabeth Dunn and Michael Norton explain how money can buy happiness if spent according to five core principles. These principles include buying experiences over material goods, making purchases a treat, buying time, paying now and consuming later, and investing in others. The authors draw on cutting-edge research in behavioral science to show how these principles can be applied by individuals and companies to create happier employees and customers. They also highlight how companies like Google, Pepsi, and Charmin have implemented these ideas successfully.
How to be happier is a topic covered in countless books, blogs, and podcasts. Consume enough of this content and you repeatedly come across the same recommendations that have purportedly been proven to increase happiness: exercise, spend time in nature, meditate, socialize, and practice gratitude.
But is there actual scientific evidence that these strategies work?
Today on the show, we'll find out what professor of social psychology Elizabeth Dunn discovered when she did a study of happiness studies, and what the surprising findings have to do with the "replication crisis" that's occurred in science. In the second half of our conversation, Elizabeth shares the takeaways of a few well-vetted happiness studies she's done herself, including how to spend your money and use technology to increase happiness. And we discuss how to apply these findings, and the findings of all happiness studies, in a wise way that takes into account your unique personality and peculiarities.
The Art of Manliness 