Article

The Psychological Consequences of Money

Department of Psychology, Florida State University, Tallahassee, Florida, United States
Science (Impact Factor: 33.61). 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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    • "Experiment 4 replicated and extended that work using another measure of communal motivation—noncontingent giving (Clark & Jordan, 2002). Among adults, reminders of money reduce donations of cherished resources, such as time or money (e.g.,Gasiorowska & Helka, 2012;Liu & Aaker, 2008;Vohs et al., 2006). In Experiment 4, we gave children the chance to donate stickers, which they typically cherish (Samuels, Brooks, & Frye, 1996).In this experiment, we altered the recipient of participants' communal actions. "
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    ABSTRACT: People can get their needs broadly satisfied in two ways: by close communal ties and dealings with people in the marketplace. These modes of relating—termed communal and market—often necessitate qualitatively different motives, behaviors, and mindsets. We reasoned that activating market mode would produce behaviors consistent with it and impair behaviors consistent with communal mode. Communal behavior was measured by prosocial helpfulness and generosity. Market behavior was measured by performance and effort. Money—the market mode cue—was presented to Polish and US children ages 3-6 in five experiments and one study. Results showed that handling money (versus other objects) facilitated children’s laborious effort, and hindered helpfulness and generosity. Money prime effects were not due to mood, money liking, or task engagement. This work is the first to demonstrate that young children possess tacit understandings of market mode and that money is a cue to shift into it.
    No preview · Article · Jan 2016 · Psychological Science
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    • ", reading a text about growing up in a wealthy family (high money priming) or in a poor family (low money priming), screensavers that depicted currency (money priming) or fish (neutral priming) or a poster on the wall depicting currency (money priming) or flowers (neutral priming). Vohs et al. (2006, 2008) found that participants reminded of monetary concepts were less helpful and less socially sensitive, they preferred solitary activities and expressed the desire for less physical intimacy; however, they also worked harder on demanding tasks and were eager to take on more work in comparison to the control group. "

    Full-text · Dataset · Oct 2015
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    • "eferred social / communal norms . One possibility is that the individual self - sufficiency orientation guides compensation behaviors . Self - sufficiency is defined as an insulated state wherein people put forth effort to attain personal goals and prefer to be separate from others . Money can make the self - sufficiency orientation more salient ( Vohs et al . , 2006 ) ."
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    ABSTRACT: Compensation is a kind of pro-social behavior that can restore a social relationship jeopardized by interpersonal transgression. The effectiveness of a certain compensation strategy (e.g., repaying money, sharing loss, etc.) may vary as a function of the social norm/relationship. Previous studies have shown that two types of norms (or relationships), monetary/exchange and social/communal, differentially characterize people's appraisal of and response to social exchanges. In this study, we investigated how individual differences in preference for these norms affect individuals' perception of others' as well as the selection of their own reciprocal behaviors. In a two-phase experiment with interpersonal transgression, we asked the participant to perform a dot-estimation task with two partners who occasionally and unintentionally inflicted noise stimulation upon the participant (first phase). As compensation one partner gave money to the participant 80% of the time (the monetary partner) and the other bore the noise for the participant 80% of the time (the social partner). Results showed that the individuals' preference for compensation (repaying money versus bearing noise) affected their relationship (exchange versus communal) with the partners adopting different compensation strategies: participants tended to form communal relationships and felt closer to the partner whose compensation strategy matched their own preference. The participants could be differentiated into a social group, who tended to form communal relationship with the social partner, and a monetary group, who tended to form communal relationship with the monetary partner. In the second phase of the experiment, when the participants became transgressors and were asked to compensate for their transgression with money, the social group offered more compensation to the social partners than to the monetary partners, while the monetary group compensated less than the social group in general and showed no difference in their offers to the monetary and social partners. These findings demonstrate that the effectiveness of compensation varies as a function of individuals' preference for communal versus monetary norm and that monetary compensation alone does not heal all wounds.
    Full-text · Article · Sep 2015 · Frontiers in Psychology
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