Abstract:
Some studies demonstrate that there is no significant relationship between purchase and well-being. Other studies, however, demonstrate that purchases can increase well-being depending on ‘how to buy’. For example, several studies have found that consumers derive more happiness from experiential purchase rather than material purchase and that there are boundary conditions. The present review study aims to (1) explore the underlying mechanisms of the ‘purchase type-well-being’-relationship from the perspectives of hedonic adaptation, social benefit, anticipative benefit, and unsymmetrical regret; (2) identify boundary conditions of the main effect from three aspects, namely, personal factors, situational factors, and the types of well-being; and (3) provide an outlook of the probable future research directions of this area.