Unpacking the hedonic paradox: a dynamic analysis of the relationships between financial captial, social captial, and life satifaction

Gelibs, Ilka H., Morton, Thomas A., Rabinovich, Anna, Haslam, S. Alexander and Helliwell, John F. (2013) Unpacking the hedonic paradox: a dynamic analysis of the relationships between financial captial, social captial, and life satifaction. British Journal of Social Psychology, 52 1: 25-43. doi:10.1111/j.2044-8309.2011.02035.x


Author Gelibs, Ilka H.
Morton, Thomas A.
Rabinovich, Anna
Haslam, S. Alexander
Helliwell, John F.
Title Unpacking the hedonic paradox: a dynamic analysis of the relationships between financial captial, social captial, and life satifaction
Journal name British Journal of Social Psychology   Check publisher's open access policy
ISSN 0144-6665
2044-8309
Publication date 2013-03
Sub-type Article (original research)
DOI 10.1111/j.2044-8309.2011.02035.x
Open Access Status
Volume 52
Issue 1
Start page 25
End page 43
Total pages 19
Place of publication Chichester, West Sussex, United Kingdom
Publisher John Wiley & Sons
Collection year 2014
Language eng
Abstract Does money buy happiness? Or is happiness derived from looking outwards towards our social networks? Many researchers have answered these questions by exploring whether the best predictor of well-being is either economic or social (or some fixed combination of the two). This paper argues for a dynamic perspective on the capacity for economic and social factors to predict well-being. In two studies, we show that both money (individual income) and community (social capital) can be the basis for individual happiness. However, the relative influence of each factor depends on the context within which happiness is considered, and how this shapes the way people define the self. Study 1 primes either money or community in the laboratory and demonstrates that such priming shifts individual values (so that they are economic vs. communal) and determines the extent to which income is more (vs. less) predictive of life satisfaction than social relations. Study 2 looks at these same priming processes in the external world (with people travelling to vs. from work). Both studies show that while money can become the basis of happiness when the self is defined in economic terms, the role of community relations in predicting happiness is more stable across contexts.
Q-Index Code C1
Q-Index Status Confirmed Code
Institutional Status Non-UQ

Document type: Journal Article
Sub-type: Article (original research)
Collections: Non HERDC
School of Psychology Publications
 
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Created: Tue, 25 Mar 2014, 17:31:00 EST by Mrs Alison Pike on behalf of School of Psychology