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Hedonomics in Consumer Behaviour
To maximize happiness, consumers must accurately predict the emotional consequences of their options and make product and service choices based on those predictions. The authors describe concepts including 'hedonic editing' and the role of multiple choice, and discuss eight common consumption biases that can decrease consumer happiness. In the end they show that 'hedonomics' challenges two commonly-held assumptions in economics: that maximizing a desired external stimuli equals maximizing consumer happiness; and that what consumers choose reflects what makes them happy.