#54 The science of anticipation

Hi all, greetings from Dubai.

I’m putting last week’s note into practice and thought, what better place to get natural light to combat winter blues than the desert? I’m here for a weekend break.

On the flight over, I reflected on the excitement I would feel as a child in the days leading up to the first day of the school summer holidays when I would fly to Spain to spend the summer. My sister and I would struggle to sleep the night before the flight because we were always so excited. The build-up seemed as exciting as the event itself.

The science of anticipation

Anticipation is a powerful aspect of the human experience, influencing our emotions, motivation, and overall well-being. Here are some key points to consider:

• Neurochemistry of anticipation: When we anticipate something positive or pleasurable, the brain releases dopamine, contributing to the overall positive experience of looking forward to an event. I remember answering a question in my behavioural economics exam for my Cambridge MPhil on a neuroscience study on monkeys pulling levers to get rewarded with grape juice. Once a monkey had pulled the lever the first time and been given the grape juice, in subsequent rounds, their brains lit up in the same way as they pressed the lever before receiving the grape juice, as they anticipated the dopamine rush.

• Emotional impact: Anticipation is linked to positive emotions, and the emotional build-up during the anticipation period can enhance the overall enjoyment of the upcoming event. It can also help buffer against stress and anxiety, providing a psychological lift.

• Motivation and goal setting: Having something to look forward to can drive our behaviour and choices in the present. It can act as a goal-setting mechanism, influencing our actions to ensure we reach and experience the anticipated event (summer body, anyone?).

• Time perception: The perception of time can be altered during the anticipation phase. Time may pass more slowly as we eagerly await a future event. This subjective experience can contribute to the overall enjoyment, as the anticipation period is prolonged.

• Social connection: Planning and looking forward to shared experiences can strengthen social bonds.

• Enhanced memory formation: The anticipation phase can enhance the encoding of memories related to the event. The brain may pay more attention to details during the anticipation period, leading to a richer and more vivid recollection of the experience.

Implementation idea

Having things planned in the diary can significantly boost well-being over the year. Having events to look forward to boost happiness and motivation can benefit both productivity and overall well-being.

As we enter the festive season and start thinking about gifts for our loved ones, think about how experiential presents can leave a lasting impression on the recipient, both from the gift itself and the build-up to it. Last year, I only purchased experiences for my family, which I will look to repeat.

Best, Alex Joshi.

On my bedside table:

• Podcast: Money Maze - Investing Lessons from 40+ Years at the FT & Bloomberg - With John Authers, Senior Markets Editor at Bloomberg (link)

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