Age differences in children's happiness from material goods and experiences: The role of memory and theory of mind

Adults view past experiences as making them happier than material goods, yet products and brands are highly coveted by children, even at young ages. Using a child developmental framework, we reconcile these two perspectives. Across four studies with children and adolescents of ages 3–17 years, we show that children (ages 3–12) derive more happiness from goods than from experiences, but the effect changes over time. As children age, the happiness...