If Thanksgiving left you sad you may want to consider leaving your credit cards at home before you hit the stores for Black Friday. When it comes to keeping long-term financial consequences in mind, sadder but wiser is just not true.
Research, just published in Psychological Science, shows that sadness “made people more myopic, and therefore willing to forgo greater future gains in return for instant gratification.”
What the researchers did was induce a sad mood by having subjects watch a short video about a boy’s mentor dying. Then they had subjects make decisions that pit short-term gain against larger long-term gains. The results?
Read the whole story: Forbes
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