Haley's parents bought her a used bicycle for her birthday. She was thrilled until she learned that her best friend received a brand new bicycle for her birthday. Haley's declining satisfaction illustrates

Question

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Haley's declining satisfaction is due to relative deprivation, which means feeling worse off compared to those who are better off. In this case, Haley's comparison of her used bicycle to her best friend's new bicycle illustrates this phenomenon.

Haley's Parents Bought Her a Used Bicycle for Her Birthday