In: Economics
Hedonic treadmill is the supposed tendency of humans to quickly return to a relatively stable level of happiness despite major positive or negative events or life changes. According to this theory, as a person makes more money, expectations and desires rise in tandem, which results in no permanent gain in happiness.
Select one:
True
False
TRUE
Explanation: A hedonic treadmill is the tendency of a person to remain at a relatively stable level of happiness despite a change in fortune or the achievement of major goals. According to the hedonic treadmill model, as a person makes more money, their expectations and desires rise in tandem. So the rise in income results in no permanent gain in happiness. The hedonic treadmill is also referred to as the hedonistic treadmill or hedonic adaptation.