Economic Inequality and the Pursuit of Pleasure

Abstract

The present research proposes and tests the “hedonic risk hypothesis” that affective experiences of pleasure provide a common currency that people use to equate economic and hedonic inequality. As a result, economic inequality can increase risk-taking in pursuit of pleasure even in noneconomic domains. Study 1 showed that higher economic inequality at the state level was associated with people in those states spending more time pursuing pleasure. Studies 2–4 were experiments, which demonstrated that when people perceive inequality in other people’s hedonic experience, they become riskier in their pursuit of pleasure for themselves. The relationship between inequality and risk-taking in pursuit of pleasurable experiences was moderated by upward social comparisons. Both monetary and hedonic inequality caused participants to become riskier in their pursuit of pleasure. The findings suggest a psychological pathway by which systemic effects of income inequality may affect individual health and social outcomes.