Increasing consumer well-being: risk as potential driver of happiness

Nawel Ayadi, Corina Paraschiv and Eric Vernette ()
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Corina Paraschiv: GREGH - Groupement de Recherche et d'Etudes en Gestion à HEC - HEC Paris - Ecole des Hautes Etudes Commerciales - CNRS - Centre National de la Recherche Scientifique
Eric Vernette: TSM - Toulouse School of Management Research - UT Capitole - Université Toulouse Capitole - UT - Université de Toulouse - CNRS - Centre National de la Recherche Scientifique - TSM - Toulouse School of Management - UT Capitole - Université Toulouse Capitole - UT - Université de Toulouse

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Abstract: This article investigates the relation between risk and individual well-being. We propose a theoretical model of happiness that makes a distinction between ex ante evaluations of happiness and ex post assessments. The main assumptions of the model are tested through three studies based on anchoring vignettes. We show that, even if, ex ante, consumers fear high risk and do not associate it to a high level of happiness, their ex post evaluation of well-being is generally higher when identical consequences result from a high-risk situation than from a low-risk situation. Control over risk-taking reinforces the gap between ex ante and ex post measures of happiness. Thus, our article provides empirical evidence about a positive relation between risk and individual well-being, suggesting that risky experiences have the potential to increase consumer well-being

Keywords: individual well-being"; "risk" (search for similar items in EconPapers)
Date: 2017-01-13
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Citations: View citations in EconPapers (6)

Published in Applied Economics, 2017, 49 (43), pp.4321 - 4335. ⟨10.1080/00036846.2017.1282142⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-01698318

DOI: 10.1080/00036846.2017.1282142

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