Notes
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It's the tendency for people to overestimate the intensity or the duration of future emotional states.
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Research shows that people predict the valence, if it's good or bad, but are less accurate in their predictions about the duration and durability of these effects.
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This bias is correlated to the pursuit of happiness. People can think they will be happy they have something. But they overestimate the intensity of the effects that such a thing brings. So when they acquire that thing, they won't be as happy as they thought.