The article discusses how discounts can mislead consumers, causing them to purchase unnecessary items like the protagonist Ed, who buys clothes he doesn't need due to a psychological reaction to perceived bargains. It contrasts acquisition value (utility of a product) with transaction value (perceived deal), explaining how getting a 'good deal' triggers dopamine responses in the brain. Ultimately, it emphasizes that mindful consumption and savoring positive experiences are key to true happiness.
When our reference price is higher than the purchase price, we run into trouble. We feel like we are winning the deal, and since our brains love to win, they train us with dopamine treats.
Developing the skill of savoring positive experiences can increase happiness. Practices like mindfulness, gratitude, and self-compassion can help us make better purchasing decisions.
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