If you can spare me 10 minutes, I'd like to conduct a thought experiment with you. If you like the activity, you can conduct it with your own participants. Because it is a thought experiment, you can use it with groups of any size since each participant in the group will be working independently.
Experiment 1
Imagine this situation: I give you $50 (or 40 Euros, or 2500 Indian Rupees, 500 South African Rands, 60 Swiss Francs, 35 British Pounds, or an equivalent amount in your local currency) to spend it any way you like. The only stipulation is that you have to spend the entire amount on yourself.
Think what you would do with the money.
After you have decided what to do with the money, answer these two questions:
- How happy would you feel as a result of spending the money according to your decision? Use a 10-point rating system in which 1 is not happy and 10 is intensely happy.
- How long will your happiness last? A few minutes, few hours, few days, …?
Experiment 2
Same scenario, but with a minor twist: I give you $50 (or its local equivalent) with the stipulation that you have to spend the entire amount on someone else.
Think how you would spend the money.
After you have decided, answer the same questions:
- How happy would you feel as a result of spending the money according to your decision? Use a 10-point rating system in which 1 is not happy and 10 is intensely happy.
- How long will your happiness last? A few minutes, few hours, few days, …?
Debrief
Compare the intensity and duration of happiness in the two cases. Is there a difference? If so, in which direction? Why?
Some people claim that money cannot buy happiness. Is this true in your case?
Some people claim that money can buy happiness as long as you spend it on others. Is this true in your case?