Study: How to give up your cake and eat it too

A new study shows how reciprocal generosity can benefit you.

Credit: Pixabay
  • Researchers studied what people do when distributing items of unequal value.
  • You may be more likely to get the item you want if you let the other person decide.
  • Reciprocal generosity can let you "give up your cake and eat it too".
Keep reading Show less

MyGoodness: Making charitable giving more effective

With so many charities relying on these donations to achieve their goals, how do we choose between them? How do we know how much impact our dollars actually have?

 

Charity wristbands (Photo illustration by Scott Barbour/Getty Images)

Online game uses hypothetical choices and real cash prizes to educate people on how to make their most of their generosity. 

MIT Media Lab 

Keep reading Show less

Understanding the Complex Relationship Between Money and Happiness

Do you really need a lot of stuff to be happy? Science says that the opposite is true.

Rapper Notorious B.I.G. perhaps put it best... "the mo' money you make, the mo' problems you get." While most of us aren't hip-hop demigods, we all have experience spending money on things that we think in the moment will make us happy but end up being... just stuff. Because when people accumulate wealth, they tend to spend it on themselves. This might make you temporarily happy but it largely means that you spend more time alone with the things that you've bought. But Harvard Professor (and Harvard’s Behavioral Insights Group member) Michael Norton has found that the more people spend on other people or in an experiential way—be it a concert ticket or simply taking a friend out for lunch—the happier they are overall. Michael's has co-written a book that covers this and other subjects called Happy Money: The Science of Happier Spending. Professor Norton’s studies are cited in The Influential Mind: What the Brain Reveals About Our Power to Change Others by Tali Sharot.