Some Cognitive Biases and Happiness

TUFAN E., HAMARAT B., BERTECENE B., PEKOGUZ S., ERYUCEL O., ENGIN B., ...More

International Conference on Economics and Administration, Bucharest, Romania, 9 - 10 June 2017, pp.133-140 identifier

  • Publication Type: Conference Paper / Full Text
  • Volume:
  • City: Bucharest
  • Country: Romania
  • Page Numbers: pp.133-140
  • Çanakkale Onsekiz Mart University Affiliated: Yes

Abstract

In this research, we try to give evidence two biases namely Availability and Reference Point Effect
and their relation with happiness. In addition to these aims we have also investigated good and bad
memories duration about hotel service. We have created a questionnaire and applied 150 people. We
strongly give evidence about availability and Reference Point Effect biases. Interestingly neither
happy nor unhappy people have biased decisions more than happy and unhappy people and regarding
cognitive biases as availability and Reference Point Effect, there is no significant difference between
happy and unhappy (depressed) peoples’ decisions.
It has been also found that happy memory has long effect than bad memory. People do not forget
good experiences for hotel services for longer terms such as one or two years. Bad experiences seem to be forgotten in long terms.
Keywords: Happiness, Reference Point Effect, Availability Effect, Behavioral Economics

In this research, we try to give evidence two biases namely Availability and Reference Point Effect and their relation with happiness. In addition to these aims we have also investigated good and bad memories duration about hotel service. We have created a questionnaire and applied 150 people. We strongly give evidence about availability and Reference Point Effect biases. Interestingly neither happy nor unhappy people have biased decisions more than happy and unhappy people and regarding cognitive biases as availability and Reference Point Effect, there is no significant difference between happy and unhappy (depressed) peoples' decisions.