The psychological consequences of money.

Department of Marketing, Carlson School of Management, University of Minnesota, 3-150 321 19th Avenue South, Minneapolis, MN 55455, USA.
Science (Impact Factor: 31.2). 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.

  • Source
    [Show abstract] [Hide abstract]
    ABSTRACT: Happiness and peace of mind are attained by giving them to someone else. If happiness is incomplete until it is shared, then can consumers put a price on happiness? Aaker and Liu (2008) argued that when it comes to happiness and giving, we should think about time, and not necessarily about money to make others happy. Simply because beyond money, volunteering of time, and expertise (Aaker and Liu, 2008) should receive more attention due to its potential. Particularly when economic growth, by itself certainly is not enough to guarantee consumer’s well being. Especially, when nothing in life is as important as we think it is (Kahneman, 1998) while we are thinking about it. If greater wealth implies greater happiness only at quite low levels of income then measurement of contentment becomes a reasonable inquiry. This research explores how consumer’s wealth levels have a limited impact on happiness. In addition, how people primed with time (Aaker and Liu, 2008) becomes more focused on high- rather than low-level goals due to the inherent association of time intentions and the future (Trope and Liberman 2003). This research mainly examines---if money doesn't necessarily buy happiness, what does? The final sections discuss the limitations of the exploratory study by providing conclusions and ideas for future research on how---purchasing equals happiness equals giving.
    Journal of American Academy of Business, Cambridge. 09/2009; 15(1):229-234.
  • Source
    [Show abstract] [Hide abstract]
    ABSTRACT: We examined the structure of personal life values as a representation of underlying motivation, in a Spanish sample of children and adolescents 12 - 16 years old. In general, results showed that youth put higher priority on intrinsic life goals (meaningful relationships, being physically healthy, self-acceptance) than extrinsic life goals (image, money, power). Gender differences were found in specific life goals. When comparing our results with another longitudinal American study using the same instrument and methodology, we found similar results, although Spanish youth value priorities goals related to support rather than striving as in American adolescents. Cultural and age trend in life priorities are discussed.
    Anales de Psicología 05/2014; 30(2):627. · 0.55 Impact Factor
  • Source
    [Show abstract] [Hide abstract]
    ABSTRACT: This article describes a systematic analysis of the relationship between empirical data and theoretical conclusions for a set of experimental psychology articles published in the journal Science between 2005–2012. When the success rate of a set of empirical studies is much higher than would be expected relative to the experiments' reported effects and sample sizes, it suggests that null findings have been suppressed, that the experiments or analyses were inappropriate, or that the theory does not properly follow from the data. The analyses herein indicate such excess success for 83% (15 out of 18) of the articles in Science that report four or more studies and contain sufficient information for the analysis. This result suggests a systematic pattern of excess success among psychology articles in the journal Science.

Full-text (2 Sources)

Available from
May 27, 2014