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.

Motivating effort: a theoretical synthesis of the self-sufficiency and two-market theories

We conducted two experimental studies to examine the effect of introducing social and monetary incentives on participants' (1) effort and (2) willingness to participate in a study. We found that extra credit invoked both communal sharing (CS, social reward) and market pricing (MP, monetary reward) schemas, thus leading to higher willingness to participate and greater effort in an experiment compared to an equivalent cash reward. Consistent with the potential combinational nature of different labour markets proposed by the relational theory, our results suggest that the labour market framework of monetary versus social incentive is not mutually exhaustive of all types of incentive, and the combinational effect created by introducing both labour markets may be the best motivator.

Power Increases Social Distance

Five experiments investigated the effect of power on social distance. Although increased social distance has been suggested to be an underlying mechanism for a number of the effects of power, there is little empirical evidence directly supporting this claim. Our first three experiments found that power increases social distance toward others. In addition, these studies demonstrated that this effect is (a) mediated by self-sufficiency and (b) moderated by the perceived legitimacy of power—only when power is seen as legitimate, does it increase social distance. The final two studies build off research showing that social distance is linked to decreased altruism and find an interaction between power and legitimacy on willingness to help others. The authors propose that the concept of social distance offers a synthesizing lens that integrates seemingly disparate findings in the power literature and explains how power can both corrupt and elevate.

Apathy blunts neural response to money in Parkinson's disease

Apathy, defined as a primary deficit in motivation and manifested by the simultaneous diminution in the cognitive and emotional concomitants of goal-directed behavior, is a common and debilitating non-motor symptom of Parkinson's disease (PD). Despite the high prevalence and clinical significance of apathy, little is known about its pathophysiology, and in particular how apathy relates to alterations in the neural circuitry underpinning the cognitive and emotional components of goal-directed behavior. Here, we examined the neural coding of reward cues in patients with PD, with or without clinically significant levels of apathy, during performance of a spatial search task during H(2) (15)O PET (positron emission tomography) functional neuroimaging. By manipulating search outcome (money reward vs valueless token), while keeping the actions of the participants constant, we examined the influence of apathy on the neural coding of money reward cues. We found that apathy was associated with a blunted response to money in the ventromedial prefrontal cortex, amygdala, striatum, and midbrain, all part of a distributed neural circuit integral to the representation of the reward value of stimuli and actions, and the influence of reward cues on behavior. Disruption of this circuitry potentially underpins the expression of the various manifestations of apathy in PD, including reduced cognitive, emotional, and behavioral facets of goal-directed behavior.

Time Crawls When You’re Not Having Fun

All people have to complete dull tasks, but individuals who feel entitled may be more inclined to perceive them as a waste of their “precious” time, resulting in the perception that time drags. This hypothesis was confirmed in three studies. In Study 1, participants with higher trait entitlement (controlling for related variables) thought dull tasks took longer to complete; no link was found for fun tasks. In Study 2, participants exposed to entitled messages thought taking a dull survey was a greater waste of time and took longer to complete. In Study 3, participants subliminally exposed to entitled words thought dull tasks were less interesting, thought they took longer to complete, and walked away faster when leaving the laboratory. Like most resources, time is a resource valued more by entitled individuals. A time–entitlement link provides novel insight into mechanisms underlying self-focus and prosocial dynamics.

Money giveth, money taketh away: the dual effect of wealth on happiness

This study provides the first evidence that money impairs people's ability to savor everyday positive emotions and experiences. In a sample of working adults, wealthier individuals reported lower savoring ability (the ability to enhance and prolong positive emotional experience). Moreover, the negative impact of wealth on individuals' ability to savor undermined the positive effects of money on their happiness. We experimentally exposed participants to a reminder of wealth and produced the same deleterious effect on their ability to savor as that produced by actual individual differences in wealth, a result supporting the theory that money has a causal effect on savoring. Moving beyond self-reports, we found that participants exposed to a reminder of wealth spent less time savoring a piece of chocolate and exhibited reduced enjoyment of it compared with participants not exposed to wealth. This article presents evidence supporting the widely held but previously untested belief that having access to the best things in life may actually undercut people's ability to reap enjoyment from life's small pleasures.

Medium of exchange matters: what's fair for goods is unfair for money

Organized groups face a fundamental problem of how to distribute resources fairly. We found people view it as less fair to distribute resources equally when the allocated resource invokes the market by being a medium of exchange than when the allocated resource is a good that holds value in use. These differences in fairness can be attributed to being a medium of exchange, and not to other essential properties of money (i.e., being a unit of account or a store of value). These findings suggest that egalitarian outcomes have a greater likelihood of being accepted as fair when the resources being distributed take the form of in-kind goods rather than of cash transfers.