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.

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    ABSTRACT: In Study 1, we test a theoretical model involving temptation, monetary intelligence (MI), a mediator, and unethical intentions and investigate the direct and indirect paths simultaneously based on multiple-wave panel data collected in open classrooms from 492 American and 256 Chinese students. For the whole sample, temptation is related to low unethical intentions indirectly. Multi-group analyses reveal that temptation predicts unethical intentions both indirectly and directly for male American students only; but not for female American students. For Chinese students, both paths are non-significant. Love of money contributes significantly to MI for all students. In Study 2, using money as a temptation and giving them opportunities to cheat on a matrix task, most Chinese students (78.4 %) do not cheat in open classrooms; supporting survey and structural equation modeling (SEM) results in Study 1. However, students in private cubicles cheat significantly more (53.4 %) than those in open classrooms (21.6 %). Finally, students’ love of money attitude predicts cheating. Factor rich predicts the cheating amount, whereas factor motivator predicts the cheating percentage. Our results shed new light on the impact of temptation and love of money as dispositional traits, money as a temptation, and environmental context (public vs. private) on unethical intentions and cheating behaviors.
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    ABSTRACT: Narcissists are known for having excessively positive self-views, but an equally defining characteristic of narcissism may be a disregard of other people. Could encouraging people to care more about others, or feel more connected to them, reduce narcissism? We describe a series of studies demonstrating that a more communal focus on others reduces narcissistic tendencies. In particular, repeating communal self-statements (i.e., “I am a caring person”), recalling a time when one was caring, feeling empathy, focusing on monetary expenditures (which increases a sense of dependence on others), and interdependent self-construal all situationally reduce narcissism. These effects occur on a small scale but are significant because they establish that communal focus causes changes in narcissism. They also suggest that narcissism may have a state-like or context-dependent component, fluctuating across time and situations. Everyone may have the propensity to be narcissistic, but caring more about others may help to curb narcissism.
    Social and Personality Psychology Compass 09/2014; 8(9).
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