Question

In: Economics

How can we maximize both experienced happiness and remembered happiness? Kahneman’s peak-end theory of remembered happiness...

How can we maximize both experienced happiness and remembered happiness? Kahneman’s peak-end theory of remembered happiness is a good starting point. According to this theory, what we remember most about hedonic experiences are their high points and how they end. The duration of the experience is also a predictor of consumer’s remembered happiness.

Select one: True False

Solutions

Expert Solution

Happiness as per Daniel Kahneman can be divided into two parts, one experianced happiness which relates to happines that are relates to experiance and understanding and going with the momentum, while remembered hapiness relates to happiness that are remembered because of past events. The two are coorelated.To maximise happiness, it is important to focus on experianced happiness. It is important to reduce commute, be active in pleasureable moments and living in the moment in order to maximise happiness.

False : As per Daniel Kahneman's peak end rule, it states that whatever we tend to remember relating to hedonic experiances are something which are either high or low and relates to how they actually end. It means what we remember are highly intense moments. Also this theory states that duration or time length has no role to play in this scenerio. The intensity of the experiance matters and not the time frame of the experiance. Thus the last line of the question is in contradiction of the theory.


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