Money talks and has a lot to say about goals, fairness, and social relationships.

Seminars - Department Seminar Series
12:45 - 14:30
Via Roentgen 1, 4th floor, room 4.E4.SR03

How does mentally activating the concept of money affect people’s behavior? Using simple but powerful methods, our research and that of laboratories around the world have found: a) Reminders of money reduce prosociality. Being around money reduces helpfulness. This finding has thrice been replicated – even among young Polish children. b) Reminders of money inspire persistence and hard work. Seeing money increases a willingness to work harder than necessary. Handling bank notes ameliorates the discomfort of painfully cold water. These data were replicated by a popular BBC television program. c) Handling money that is clean and new versus dirty and soiled produces divergent moral behaviors. Clean money enhances endorsement of honesty, fair trade, and generosity. Dirty money produces the opposite effects. That reminders of money substantially alter people's thoughts and behavior are relevant to consumer and organizational scientists of interested in performance, decision-making, wellbeing, development, motivation, and interpersonal relationships.
 

Kathleen Vohs, Professor of Excellence in Marketing, Carlson School of Management, University of Minnesota