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(1) we all have guilty pleasures, our day-to-day decisions are usually governed by a deep-seated sense that we would be better off (2)if we favored work over leisure, necessities over luxuries, and saving money over (3) spending it. But would we be happier?Our research shows that forgoing indulgences today can(4)strong regrets later, and that near-term regrets about self-indulgence dramatically (5)with time. These responses are so strong that we were able to influence people’s buying behavior simply by asking them to (6)their long-term regrets.One of our studies — published in the Journal of Consumer Research — (7)the regrets felt by college students (8)their conduct on recent winter breaks and by alumni remembering winter breaks of 40 years ago. Regret about(9)or traveled more during breaks increased with time, whereas regret about not having worked, studied or saved money during breaks decreased with time. We saw a(10)pattern in a study of (11)business people perceived past choices between work and pleasure. Over time, those who had indulged felt (12)guilty about their choices, whereas those who had been dutiful experienced a growing sense of having (13) on the pleasures of life.People who unduly resist self-indulgence(14)from an excessive farsightedness, or hyperopia — the reverse of typical self-control problem.(15)yielding to temptation, they focus on(16)necessities and acting responsibly and they see indulgence as wasteful, irresponsible, and even immoral.(17), these consumers avoid precisely the products and experiences that they most enjoy. Their hyperopia can inhibit consumption in ways that are both bad for their own well-being and for marketers’ bottom lines. We don’t advocate(18)to motivate consumption to make ill-considered purchases, of course, but marketers can help customers make appropriately indulgent choices that they’ll —(19) over the long term.In another study, forthcoming in the Journal of Marketing Research, fifty-seven consumers were asked(20) of a shopping mall trip to consider two(21): buying an expensive item of clothing that would make them happy, or buying a cheaper alternative that would (22)them to spend the saved money on more practical things. Half were then asked to predict which of the two choices would(23)them the greatest regret the next day, while the other half were asked to consider the regret they might feel over each purchase several years later.After the shopping trip, we examined the consumers’ actual purchase. As we(24), those who anticipated regret the next day(25)to buy more practical goods; those who had considered regret in the more distant future bought more indulgent products. In other words, thinking about short-term regret drives consumers to be virtuous, (26)thinking about long-term regret leads them to be extravagant.Our findings suggest that marketers of luxury products and leisure services could (27)from prompting consumers to predict their feelings in the future if they forgo the indulgent choice. For instance, a travel company might ask customers to consider how they’ll feel about having(28)a family vacation package once the nest is empty.Consumers, too, can benefit from such prompts. In the words of the late Massachusetts senator Paul Tsongas, “Nobody on his deathbed (29)said, ‘I wish I(30)more time at the office.’”

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