UCL Discovery
UCL home » Library Services » Electronic resources » UCL Discovery

Money: An integrated review and synthesis from a psychological perspective

Wang, X; Chen, Z; Krumhuber, E; (2020) Money: An integrated review and synthesis from a psychological perspective. Review of General Psychology 10.1177/1089268020905316. (In press). Green open access

[thumbnail of Xijing final paper.pdf]
Preview
Text
Xijing final paper.pdf - Accepted version

Download (474kB) | Preview

Abstract

Many empirical studies have demonstrated the psychological effects of various aspects of money, including the aspiration for money, mere thoughts about money, possession of money, and placement of people in economic contexts. Although multiple aspects of money and varied methodologies have been focused on and implemented, the underlying mechanisms of the empirical findings from these seemingly isolated areas significantly overlap. In this article, we operationalize money as a broad concept and take a novel approach by providing an integrated review of the literature and identifying five major streams of mechanisms: (a) self-focused behavior; (b) inhibited other-oriented behavior; (c) favoring of a self–other distinction; (d) money’s relationship with self-esteem and self-efficacy; and (e) goal pursuit, objectification, outcome maximization, and unethicality. Moreover, we propose a unified psychological perspective for the future—money as an embodiment of social distinction—which could potentially account for past findings and generate future work.

Type: Article
Title: Money: An integrated review and synthesis from a psychological perspective
Open access status: An open access version is available from UCL Discovery
DOI: 10.1177/1089268020905316
Publisher version: https://doi.org/10.1177/1089268020905316
Language: English
Additional information: This version is the author accepted manuscript. For information on re-use, please refer to the publisher’s terms and conditions.
Keywords: money, psychological effects, integrated review, unified perspective
UCL classification: UCL
UCL > Provost and Vice Provost Offices > School of Life and Medical Sciences
UCL > Provost and Vice Provost Offices > School of Life and Medical Sciences > Faculty of Brain Sciences
UCL > Provost and Vice Provost Offices > School of Life and Medical Sciences > Faculty of Brain Sciences > Div of Psychology and Lang Sciences
UCL > Provost and Vice Provost Offices > School of Life and Medical Sciences > Faculty of Brain Sciences > Div of Psychology and Lang Sciences > Experimental Psychology
URI: https://discovery.ucl.ac.uk/id/eprint/10086834
Downloads since deposit
171Downloads
Download activity - last month
Download activity - last 12 months
Downloads by country - last 12 months

Archive Staff Only

View Item View Item