Related Experiment Video
Updated: May 15, 2026

The Joint Effect of Social Comparison and Social Distance on Evaluation of Intertemporal Choice Outcomes in Event-related Potential Studies
Published on: August 25, 2023
What Do You Think Would Make You Happier? What Do You Think You Would Choose?()
Daniel J Benjamin1, Miles S Kimball, Ori Heffetz
1Cornell University and NBER.
Abstract:
Would people choose what they think would maximize their subjective well-being (SWB)? We present survey respondents with hypothetical scenarios and elicit both choice and predicted SWB rankings of two alternatives. While choice and predicted SWB rankings usually coincide in our data, we find systematic reversals. We identify factors-such as predicted sense of purpose, control over one's life, family happiness, and social status-that help explain hypothetical choice controlling for predicted SWB. We explore how our findings vary by SWB measure and by scenario. Our results have implications regarding the use of SWB survey questions as a proxy for utility.
Related Concept Videos
Decision Making
Automatic decision-making is fast, intuitive, and relies on gut feelings...
Social Exchange Theory
Social Exchange Theory
Counterfactual Thinking
Frustration and Conflict: Approach-Approach, Approach-Avoidance
One common type of conflict is the Approach–Approach Conflict. In this case, a person faces two desirable options,...
Decision Making: P-value Method
First, a specific claim about the population parameter is proposed. The claim is based on the research question and is stated in a simple form. Further, an opposing statement to the claim is also stated. These statements can act as null and alternative hypotheses: a null hypothesis would be a neutral statement while the alternative hypothesis can have a...
