What's Prospect Theory Got To Do With It?

(photo from Wikimedia Commons -- an Example of What Does Make Us Happy -- Mastery, Accomplishment, Pride, Team Effort, and, yes, Winning (though winning is an emotional high that has a short half-life)
Consider this a place marker to provide a plain English version of the Prospect Theory link I gave you yesterday. While you're waing, here's a reminder of a fact we ofen cite here.
psychological research [concerning] happiness . . . . finds subjective measures of wellbeing are relatively stable over time, even in the face of large increases in wellbeing (Easterlin, 1974; Frank, 1997)




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