The psychological consequences of money

Department of Psychology, Florida State University, Tallahassee, Florida, United States
Science (Impact Factor: 31.48). 12/2006; 314(5802):1154-6. DOI: 10.1126/science.1132491
Source: PubMed

ABSTRACT Money has been said to change people's motivation (mainly for the better) and their behavior toward others (mainly for the worse). The results of nine experiments suggest that money brings about a self-sufficient orientation in which people prefer to be free of dependency and dependents. Reminders of money, relative to nonmoney reminders, led to reduced requests for help and reduced helpfulness toward others. Relative to participants primed with neutral concepts, participants primed with money preferred to play alone, work alone, and put more physical distance between themselves and a new acquaintance.

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Available from: Nicole Mead, Jul 30, 2015
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    • "Although we have touched on a select set of emotional responses (e.g., envy), others have been widely shown to emerge as a function of compensation. A growing literature shows how the love of money can influence several classes of misconduct (Tang and Chiu, 2003; Vohs et al., 2006; Pierce and Gino, 2009b). Similarly, if pay-for-performance compensation systems use non-linear schemes that involve quotas or accelerators, then they may evoke misconduct that has been associated with goals (Ordonez et al., 2009). "
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    • "Once a transformation from an internal to an external motivation has occurred, it can be difficult to reverse (e.g., Heyman and Ariely 2004; Vohs et al. 2006). Program participants who engage in a conservation behavior solely to obtain a financial reward may be more unlikely to continue the behavior once the payment is removed. "
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    • "Research provides mixed results for the effect of extrinsic motivations, including money, on pro-social behaviors, which include whistleblowing. 3 Prior research finds that priming individuals with an economic focus (e.g., providing monetary incentives) leads to more selfish and less pro-social behavior (Molinsky, Grant, & Margolis, 2012; Gino & Mogilner, 2014; Vohs, Mead, & Goode, 2006), suggesting that a bounty program would discourage whistleblowing. "
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