ITEMS OF INTEREST April 21, 2008 Issue

ITEMS OF INTEREST

with contributions from Roy Lloyd, Norris Burkes

IF YOU THINK a large-screen TV will buy you happiness, think again—US and Canadian researchers say money can't buy happiness, but giving to others can.

The study, published in Science [Magazine], finds that people report significantly greater happiness if they spend money "pro-socially"—that is, on gifts for others or charitable donations—rather than spending on themselves.

University of British Columbia Professor Elizabeth Dunn and graduate student Lara Aknin and Michael Norton of the Harvard Business School looked at a nationally representative sample of more than 630 Americans. They asked participants to rate their general happiness; report their annual income; and provide a breakdown of their monthly spending—including bills, gifts for themselves, gifts for others, and donations to charity.

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