In the article "The Futile Pursuit of Happiness" Jon Gertner proposes that what we think will make us the happiest may ultimately dissapoint us. The reason for this is that we have a hard time anticipating how things will actually affect us. The term for the disparity between what we think will make us happy and the happiness that we ultimately recieve is called "impact bias". This also works when looking at how bad somthing might make you feel, like losing a leg or getting divorced. Knowing that the awesomeness of owning the newest toys is often less satisfying than we anticipate could help to reduce our culture's constant need to have the next big thing, which could lead to more responsible spending. It might also cut down on America being viewed as a "throw away culture".
A person may believe that owning over renting will make them much happier. No more worrying about parking or annoying neighbors keeping you up all night. But suddenly you have to replace the hot water heater and the roof. While the idea of owning a home may sound great people often fail to think about all of the work that goes into it.
