Psychological consequences of money and money attitudes in dictator game

Open access

Psychological consequences of money and money attitudes in dictator game

According to the research conducted by Vohs, Mead, and Goode (2006, 2008), reminders of money cause people to behave self-sufficiently, and especially to reveal a reduced tendency to charitable behaviour. In this study, we wanted to establish if this tendency would be present in the dictator game, and if so, whether money activation would just change behaviour, or whether it would also change people's evaluation of their own decisions. We assumed that people who revealed symbolic and instrumental money attitudes would react differently to money activation. As expected, money priming caused smaller money transfers compared to the control condition, and this effect was significant among those with symbolic attitudes toward money. Moreover, participants who transferred at least half of the sum after money activation declared stronger negative emotions and lower satisfaction with the decision than those who made similar transfers in the control condition.

Bajcar, B., & Gąsiorowska, A. (2004). Poznawcze i temperamentalne uwarunkowania postaw wobec pieniędzy. In T. Listwan (Ed.), Sukces w zarządzaniu kadrami. Perspektywa globalna i lokalna. Prace Naukowe Akademii Ekonomicznej im. Oskara Langego we Wrocławiu nr 1032 (pp. 27-42). Wrocław: Wydawnictwo AE.

Belk, R.W., & Wallendorf, M. (1990). The sacred meanings of money. Journal of Economic Psychology, 11(1), 35-68.

Bhardwaj, S., & Bhattacharjee, K. (2010). Modeling Money Attitudes to Predict Loan Default. The IUP Journal of Bank Management, 9(1/2), 12-20.

Burgess, S. M. (2005). The importance and motivational content of money attitudes: South Africans with living standards similar to those in industrialised Western countries. South African Journal of Psychology, 35(1), 106-126.

Camerer, C. F. (2003). Behavioral game theory: Experiments in strategic interaction. Princeton, NJ: Princeton Univ. Press.

Fiske, A. P. (1992). The four elementary forms of sociality: Framework for a unified theory of social relations. Psychological Review, 99(4), 689-723.

Furnham, A. (1984). Many sides to the coin: The psychology of money usage. Personality and Individual Differences, 5(5), 501-509.

Furnham, A. (1999). The saving and spending habits of young people. Journal of Economic Psychology, 20, 677-697.

Gąsiorowska A. (2003). Jeden pieniądz, wiele spraw. Konstrukcja i weryfikacja skali postaw wobec pieniędzy. Institute of Organization and Management Report, PRE no. 53. Wroclaw: Wroclaw University of Technology.

Gąsiorowska, A. (2008). Skala Postaw Wobec Pieniędzy SPP2008. Podręcznik. (Unpublished manuscript). Institute of Organization and Management, Wroclaw: Wroclaw University of Technology

Gąsiorowska, A. (2010). Biedni czy bogaci? Wpływ dochodu i postaw wobec pieniędzy na ocenę własnej sytuacji finansowej. In A. M. Zawadzka & M. Górnik-Durose (Eds.), Życie w konsumpcji, konsumpcja w życiu. Psychologiczne ścieżki współzależności (pp. 177-193). Gdańsk: GWP.

Gąsiorowska, A. (2011). Czy dla każdego większa ilość pieniędzy oznacza lepszą sytuację finansową? Postawy wobec pieniędzy a spostrzeganie własnego dochodu. Psychologia ekonomiczna, 1, 5-16.

Gąsiorowska, A., & Czerw, A. (2010). Jasna przyszłość naszych finansów? O związkach optymizmu i postaw wobec pieniędzy. In M. Górnik-Durose i M. Goszczyńska (Eds.), Psychologiczne uwarunkowania zachowań ekonomicznych. Przedsiębiorczość- pieniądze-konsumpcja (pp. 107-127). Warszawa: Difin.

Gąsiorowska, A., Zaleśkiewicz, T. & Wygrab, S. (2011). Would you do something for me? The effects of money activation on social behavior and social preferences in young children. Journal of Economic Psychology. doi:10.1016/j.joep.2011.11.007.

Gino, F., & Pierce, L. (2009). The abundance effect: Unethical behavior in the presence of wealth. Organizational Behavior and Human Decision Processes, 109(2), 142-155.

Hanley, A., & Wilhelm, M. S. (1992). Compulsive buying: An exploration into self esteem and money attitudes. Journal of Economic Psychology, 13, 5-18.

Hełka, A. M. (2010). The influence of situational factors on adults' and children's socially oriented preferences in two-person economic games. (Unpublished final reportof the implementation ofthe KBN grant No. NN106128). Warsaw School of Social Science and Humanities, Wroclaw Faculty.

Kahneman, D., Knetsch, J. L., & Thaler, R. H. (1986). Fairness as a constraint on profit seeking: Entitlements in the market. American Economic Review, 76(4), 728-741.

Kay, A., Wheeler, S. C., Bargh, J. A., & Ross, L. (2004). Material priming: The influence of mundane physical objects on situational construal and competitive behavioral choice. Organizational Behavior and Human Decision Processes, 95(1), 83-96.

Lea, S. E. G., & Webley, P. (2006). Money as tool, money as drug: The biological psychology of a strong incentive. Behavioral and Brain Sciences, 29(2), 161-176.

Lim, V. K. G., Teo, T. S. H., & Loo, G.L. (2003). Sex, financial hardship and locus of control: An empirical study of attitudes towards money among Singaporean Chinese. Personality and Individual Differences, 34, 411-429.

Luna-Arocas, R., & Tang, T. L. P. (2004). The love of money, satisfaction and the Protestant work ethic: Money profiles among university professors in the U.S.A. and Spain. Journal of Business Ethics, 50, 329-354.

Oberholzer-Gee, F., & Eichenberger, R. (2008). Fairness in extended dictator game experiments. Economic Analysis, 8(1), 1-19.

Olszanska, A. (2011). Skłonność do egalitaryzmu u dzieci i ich rodziców w grze typu dyktator. (Unpublished Master of Art thesis). Warsaw School of Social Science and Humanities, Wroclaw Faculty.

Roberts, J. A., & Jones, E. (2001). Money Attitudes, credit card use, and compulsive buying among American college students. Journal of Consumer Affairs, 35(2), 213-240.

Roberts, J. A., Sepulveda, C. J. M. (1999). Money attitudes and compulsive buying: an exploratory investigation of the emerging consumer culture in Mexico. Journal of International Consumer Marketing, 11(4), 53-74.

Tang, T. L. P. (1992). The meaning of money revisited. Journal of Organizational Behavior, 13, 197-202.

Tang, T. L. P. (1995). The development of a short money ethic scale: Attitudes toward money and pay satisfaction revisited. Personality and Individual Differences, 19, 809-816.

Tang, T. L. P. (2007). Income and quality of life: Does the love of money make a difference? Journal of Business Ethics, 72, 375-393.

Tang, T. L. P., & Chiu, R.K. (2003). Income, money ethic, pay satisfaction, commitment, and unethical behavior: Is the love of money the root of evil for Hong Kong Employees? Journal of Business Ethics, 46, 13-30.

Tang T. L. P., Luna-Arocas R., Sutarso T., & Tang D. S.-H. (2004). Does the love of money moderate and mediate the income-pay satisfaction relationship? Journal of Managerial Psychology, 19(2), 111-135.

Tang, T. L. P., Tang, T. L.-N., & Homaifar, B. Y. (2006). Income, the love of money, pay comparison, and pay satisfaction: Race and gender as moderators. Journal of Managerial Psychology, 21(5), 476-491.

Tang, T. L-P., Tillery, K. R., Lazarevski, B., & Luna-Arocas, R. (2004). The love of money and work-related attitudes: Money profiles in Macedonia. Journal of Managerial Psychology 19(5), 542-548.

Tatzel, M. (2002). Money worlds' and well-being: An integration of money dispositions, materialism and price-related behavior. Journal of Economic Psychology, 23(1), 103-126.

Vohs, K. D., Mead, N. L., & Goode, M. R. (2006). The psychological consequences of money. Science, 314, 1154-1156.

Vohs, K. D., Mead, N. L., & Goode, M. R. (2008). Merely activating the concept of money changes personal and interpersonal behavior. Current Directions in Psychological Science, 17(3), 208-212.

Wąsowicz-Kiryło, G. (2008). Psychologia finansowa. O pieniądzach w życiu człowieka. Warszawa: Difin.

Wernimont, P. & Fitzpatrick, S. (1972). The meaning of money. Journal of Applied Psychology, 56, 218-226.

Yamauchi, K., & Templer, D. (1982). The development of a money attitudes scale. Journal of Personality Assessment, 46, 522-528.

Zaleśkiewicz, T., Gąsiorowska, A., Łuszczyńska, A., Kesebir, P., & Pyszczyński, T. (under review). Money and immortality: Effects of mortality salience on the valuation of money.

Zhang, L. (2009). An exchange theory of money and self-esteem in decision making. Review of General Psychology, 13(1), 66-76.

Zhou, X. Vohs, K. D., & Baumeister, R. F. (2009). The symbolic power of money: Reminders of money alter social distress and physical pain. Psychological Science, 20, 700-706.

Tang, T.L.P., Tang, D. S.-H., & Luna-Arocas, R. (2005). Money profiles: the love of money, attitudes, and needs. Personnel Review, 34, 603-618.

Polish Psychological Bulletin

The Journal of Committee for Psychological Sciences of Polish Academy of Sciences

Journal Information


CiteScore 2016: 0.33

SCImago Journal Rank (SJR) 2016: 0.185
Source Normalized Impact per Paper (SNIP) 2016: 0.258

Cited By

Metrics

All Time Past Year Past 30 Days
Abstract Views 0 0 0
Full Text Views 390 390 20
PDF Downloads 216 216 18