You Can’t Take It With You, but You Still Want More - NYTimes.com

You Can’t Take It With You, but You Still Want More - NYTimes.com:

All were told that there would be a second phase to the experiment, also lasting five minutes, in which they could eat the chocolate they earned. But they were told they would forfeit any chocolate they couldn’t consume, and they were asked how much they expected to be able to eat.

On average, people in the high-earner group predicted that they could consume 3.75 chocolates.

But when it came time to “earn” chocolates, they accumulated well beyond their estimate. On average, they listened to enough white noise to earn 10.74 chocolates. Then they actually ate less than half of that amount.

In other words, they subjected themselves to harsh noise to earn more than they could consume, or predicted they could consume.

“We introduce the concept of ‘mindless accumulation,’ ” said one of the paper’s authors, Christopher Hsee, a professor of behavioral science and marketing at the University of Chicago Booth School of Business. “It’s a waste of effort,” he added, “But once people are in action, they can’t stop.”