When you are buying a present for someone, don’t sacrifice practicality for the “wow factor”, a new study by Yale University’s Ernest Baskin cited by Life Hacker says. The research paper suggests that the solution to giving a perfect gift is for the gift giver to think of their own preference before choosing it, as this will be probably be closer to what the receiver wants.
Our willingness to take risks increases when we play games of chance and win money, a study by neurofinance researcher Kaisa Hytönen quoted on Psy Post says. And the stronger the emotion to the experiences of profit and loss, the more people accept risk. The findings are relevant to personal finance as tolerance to risk is relevant to many types of financial decisions.
Happy ever after?
Happiness is relative, a blog post on Psychology Today says. To prove the point, the blogger describes a scenario in which a worker receives a EUR10,000 bonus and their colleague a EUR5,000 bonus – making the recipient of the larger windfall very happy. But if the places were reversed, that worker would probably be less happy. It says we relate our happiness to experiences we’ve had before or those that we see others having.