How emotional is a banknote? The affective basis of money perception

Health-Related, Social and Cognitive Factors Explaining Gambling Addiction

BACKGROUND

Gambling addiction was the first addictive behavior not related to substance use that was recognized by the DSM-5. It shares diagnostics and comorbidity with other addictions. Extensive studies have investigated the clinical variables involved, but there have been fewer studies of related cognitive and social variables. In this research, an integrative model was developed to advance the understanding of gambling addiction, and an explanatory model was created based on the concept of cognitive distortions.

METHODS

The sample comprised 258 university students (59.5% women) with a mean age of 20.95 years (SD = 2.19). A series of questionnaires were administered to measure gambling addiction, depression, coping with stress, prosocial behavior, susceptibility to priming and cognitive distortions about gambling. In addition, correlations, multiple linear regressions and a simple mediation model of these variables were analyzed.

RESULTS

The results indicated that gambling addiction was correlated with a variety of clinical, social and cognitive factors. These factors contributed to a model that predicted 16.8% of the variance in gambling addiction and another model using cognitive distortions as a predictor and the maximum bet as a mediator that predicted 34.5% of the variance.

CONCLUSIONS

The study represents an advance by developing a theoretical model from an integrative perspective and providing a new explanatory model. The findings of this research are of great importance in the development of prevention and intervention programs for gambling addiction.

The joint effect of framing and defaults on choice behavior

The framing effect leads people to prefer a sure alternative over a risky one (risk aversion) when alternatives are described as potential gains compared to a context-dependent reference point. The reverse (risk propensity) happens when the same alternatives are described as potential losses. The default effect is the tendency to prefer a preselected alternative over other non-preselected given options, without facilitating nor incentivizing the choice. These two effects have mainly been studied separately. Here we provided novel empirical evidence of additive effects due to the application of both framing and default within the same decision problem in a large sample size (N = 960). In the baseline condition, where no default was provided, we measured the proportion of risky choices in life-or-death and financial decisions both presented in terms of potential gains or losses following the structure of the Asian disease problem. In the sure default condition, the same layout was proposed with a flag on the sure option, whereas in the risky default condition, the flag was on the risky option. In both default conditions, we asked participants whether they wanted to change the preselected option. Overall, the comparison between these conditions revealed three distinct main effects: (i) a classic framing effect, (ii) a larger risk propensity in the life-or-death scenario than in the financial one, and (iii) a larger default effect when the flag was on the risky, rather than on the sure, option. Therefore, we conclude that default options can enhance risk propensity. Finally, individual beliefs about the source of the default significantly moderated the strength of the effect. Underlying mechanisms and practical implications are discussed considering prominent theories in this field.

When time stands upright: STEARC effects along the vertical axis

According to the spatial-temporal association of response codes (STEARC) effect, time can be spatially represented from left to right. However, exploration of a possible STEARC effect along the vertical axis has yielded mixed results. Here, in six experiments based on a novel paradigm, we systematically explored whether a STEARC effect could emerge when participants were asked to classify the actual temporal duration of a visual stimulus. Speeded manual responses were provided using a vertically oriented response box. Interestingly, although a top-to-bottom time representation emerged when only two temporal durations were employed, an inverted bottom-to-top time representation emerged when a denser set of temporal durations, arranged along a continuum, was used. Moreover, no STEARC effects emerged when participants classified the shapes of visual stimuli rather than their temporal duration. Finally, three additional experiments explored the STEARC effect along the horizontal axis, confirming that the paradigm we devised successfully replicated the standard left-to-right representation of time. These results provide supporting evidence for the notion that temporal durations can be mapped along the vertical axis, and that such mapping appears to be relatively flexible.

Behavioral economics: who are the investors with the most sustainable stock happiness, and why? Low aspiration, external control, and country domicile may save your lives—monetary wisdom

Slight absolute changes in the Shanghai Stock Exchange Index (SHSE) corresponded to the city’s immediate increases in coronary heart disease deaths and stroke deaths. Significant fluctuations in the Shenzhen Stock Exchange Index (SZSE) corresponded to the country’s minor, delayed death rates. Investors deal with money, greed, stock volatility, and risky decision-making. Happy people live longer and better. We ask the following question: Who are the investors with the highest and most sustainable stock happiness, and why? Monetary wisdom asserts: Investors apply their deep-rooted values (avaricious love-of-money aspiration and locus of control, Level 2) as a lens to frame critical concerns in the proximal-immediate (Shanghai Stock Exchange Index changes, Level 1) and the omnibus-distal contexts (domicile: city vs. country, Level 2) to maximize expected utility (portfolio changes, Level 1) and ultimate serenity (stock happiness, Level 1). We collected multilevel data—the longitudinal SHSE and 227 private investors’ daily stock happiness and portfolio changes for 36 consecutive trading days in four regions of China. Investors had an average liquid asset of $76,747.41 and $54,660.85 in stocks. This study is not a “one-shot” game with “nothing at stake.” We classified Shanghai and Beijing as the city and Shenzhen and Chongqing as the country. Our cross-level 3-D visualization reveals that regardless of SHSE volatility, investors with low aspiration, external control, and country domicile enjoy the highest and most sustainable stock happiness with minimum fluctuations. Independently, investors with low aspiration, external control, and country domicile tend to make fewer portfolio changes than their counterparts. Behaviorally, less is more, debunking the myth—risky decisions excite stock happiness. Our longitudinal study expands prospect theory, incorporates attitude toward money, and makes robust contributions to behavioral economics and business ethics. We help investors and ordinary citizens make happy, healthy, and wealthy decisions. Most importantly, the life you save may be your own.

Cross-cultural evidence of a space-ethnicity association in face categorisation

According to a space-valence association, individuals tend to relate negatively- and positively-connoted stimuli with the left and right side of space, respectively. So far, only a few studies have explored whether this phenomenon can also emerge for social dimensions associated with facial stimuli. Here, we adopted a cross-cultural approach and conducted two experiments with the main aim to test whether a left–right space-valence association can also emerge for other- vs. own-race faces. Asian Japanese (Experiment 1) and White Italian (Experiment 2) participants engaged in a speeded binary classification task in which a central placed face had to be classified as either Asian or White. Manual responses were provided through a left- vs. right-side button. In both experiments, other-race faces elicited faster responses than own-race faces, in line with the well-documented other-race categorisation advantage. Moreover, evidence of an association between space and ethnic membership also arose and, interestingly, was similar in both groups. Indeed, Asian faces were responded to faster with the right-side key than with the left-side key, whereas response side had no effect for White faces. These results are discussed with regard to possible cross-cultural differences in group perception.

Is Face Age Mapped Asymmetrically onto Space? Insights from a SNARC-like Task

The magnitude associated with a stimulus can be spatially connoted, with relatively smaller and larger magnitudes that would be represented on the left and on the right side of space, respectively. According to recent evidence, this space–magnitude association could reflect specific brain asymmetries. In this study, we explored whether such an association can also emerge for face age, assuming that responders should represent relatively younger and older adult faces on the left and on the right, respectively. A sample of young adults performed a speeded binary classification task aimed at categorising the age of a centrally placed adult face stimulus as either younger or older than the age of a reference face. A left-side and a right-side response key were used to collect manual responses. Overall, older faces were categorised faster than younger faces, and response latencies decreased with the absolute difference between the age of the target stimulus and the age of the reference, in line with a distance effect. However, no evidence of a left-to-right spatial representation of face age emerged. Taken together, these results suggest that face age is mapped onto space differently from other magnitudes.

How Much Money Do You Need to Feel Taller? Impact of Money on Perception of Body Height

Body height is considered to be one of the most important reproductive signals. However, there are only a few publications on what influences the sense of whether we assess ourselves as tall or short. In the present contribution, the psychological impact of money on the evaluation of a person’s own height was tested. We performed two experimental studies in which the respondents had contact with different amounts of money and were asked to evaluate their body height with the use of a laser pointer. The first experiment (N = 61) showed that contact with money significantly increased subjective height evaluation, and the effect was independent of participants’ real body height. The second experiment (N = 120) replicated the effect of money manipulation. Moreover, it was shown that higher amounts of money increased one’s own height estimation more than smaller amounts. Our research shows that money can be used for building one’s social position, which is an attractiveness signal that can influence one’s own height evaluation.