How you are feeling has an impact on your routine economic transactions, whether you’re aware of this effect or not.

In a new study that links contemporary science with the classic philosophy of William James, a research team finds that people feeling sad and self-focused spend more money to acquire the same commodities than those in a neutral emotional state. The team’s paper, “Misery is not Miserly: Sad and Self-Focused Individuals Spend More,” will be published in the June 2008 edition of Psychological Science and will be presented at the Society for Social and Personality Psychology’s Annual Meeting on Feb. 9. [continue reading…]