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Psychological Consequences of Money Essay

Psychological Consequences of Money Essay.

The Psychological Consequences of Money

                                                Category: Others

Please read the paper very carefully before you start answering the questions. Some questions are quite broad in their nature, but others are very specific to the experiments/data in the paper.

1.Experiment 5 has three conditions; high money, low money, control and the measure of helpfulness is how many spilled pencils were picked up by the participants (after the confederate had deliberately dropped them in front of the participants). What percentage was picked up, on the average, by participants across these three conditions.

2.In Experiment 6, the participants in the money condition donated about 77 cents (on the average) to the Student Fund, while those in the non-money condition donated $1.34 on the average. We can argue that the difference arose because those in the money condition were poorer (had less money to give) compared to those in the non-money condition. Indicate two reasons why this may not be the case

(Experiments 5 and 6 are on Page 1155)

Requirements: 150-200   

The Psychological Consequences of Money

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The Psychological Consequences of Money

  The percentage that was picked up, on average, by participants across these three conditions is the low-income category together with the comparison group (Kathleen,2006).  Individuals in the high-money situation collected lesser pencils than those in the reduced income. The low-income category and the comparison category were equally beneficial and took a tie.

    In the experiment, two participants who were briefed with money gave much less cash to the student collection than participants who were not briefed with cash, according to the study, for two reasons: The first was to persuade individuals that money influences them to be self-sufficient and act accordingly (Kathleen, 2006). The second reason is money enables the person to accomplish their objectives without the assistance of others. As a result, money reminders would cause adjustments in conduct that indicate a sense of self-sufficiency. In addition, since people are conscious of cash, they desire to be independent of reliance and do not wish others to rely on them.

References

The Psychological Consequences of Money KATHLEEN D. VOHSNICOLE L. MEADAND MIRANDA R. GOODEAuthors Info & Affiliations SCIENCE • 17 Nov 2006 • Vol 314, Issue 5802 • pp. 1154-1156 • DOI: 10.1126/science.1132491

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