Wednesday, November 22, 2006

Subconscious thoughts about money are enough to make you more stingy!

Benedict Carey of NYTimes describes the research in this story:

In a series of experiments, psychologists found that subconscious reminders of money prompted people to become more independent in their work, less likely to seek help from others or to provide it. They became reluctant to volunteer their time and stingy when asked to donate to a worthy cause.

“Everybody says that if they had the money, they’d give more away, they’d do what Warren Buffett did,” said Kathleen D. Vohs, lead author of the study...

“Well, we thought that that was a nice thing to bring into the lab, to test in a variety of ways,” added Dr. Vohs, a psychologist in the University of Minnesota school of management.

Her co-authors were Nicole Mead of Florida State University and Miranda Goode, a graduate student in marketing at the University of British Columbia.