Updates from Chicago Booth

Want to be happier? Give more to others
By Alice G. Walton – There’s scientific evidence, it turns out, to back up centuries-old religious teachings that it’s better to give than to receive. Chicago Booth’s Ed O’Brien and Northwestern PhD candidate Samantha Kassirer find that giving to others might make you happier in the long run and has staying power, whereas the joy of receiving fades quickly.

In an experiment, the researchers gave college students $5 for five days in a row and told them to spend it the same way each day. Half of the students were instructed to spend the money on themselves, say by buying a coffee daily. The other half were told to spend the money on others, for example by donating to a single charity or leaving a tip in the same coffee shop each day. Every night, the participants completed a survey in which they reported how they felt overall that day.

The happiness level of the students who spent money on themselves declined over the five days, the researchers find. But for those who donated the money, their happiness level on the fifth day was similarly high as on the first. more>

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