Can Money Buy Happiness? Essay Example

Maximizing utility is the main problem for the consumers. The money is a product for our use, and we can use it for maximizing our utility. That means we can buy happiness by using money. However, this is a simple explanation. The research indicates us that the issue is relatively more complex.
The buying behavior is the result of a decision-making process for every individual. The different preferences of the individuals might cause different utility levels for different individuals. Considering that every individual has a different utility function, the different uses of money might cause different utility levels for different consumers.
Assuming that the consumers’ utility functions have some similar points, then we can research whether there are some certain ways of using money can produce relatively more utility for individuals. The study has investigated this, and the answer to the question is "Yes." The study has found that people enjoy spending on other people to help them can make a relatively higher level of utility than spending the money for their use. Also, the study explains that the people involved with this study has expressed that they like talking about their experiences. For instance, traveling and seeing new places can make a high level of contribution to their utility.
Consequently, the utility gained from money can be maximized, or in another word, money can buy happiness. The essential aspect, of buying happiness, is the way how one spends the money. According to this study, if a person spends money for having new experiences that other people do not have or spend money on charities and other people in can increase the utility of the use of money. However, people have some needs to survive. Thus, the people should find an optimal sharing ratio of the money between the necessities and having experience and giving it away. This optimal can maximize the utility gained from the money.