Nostalgia Weakens the Desire for Money

Lasaleta, Jannine; Sedikides, Constantine; Vohs, Kathleen D.

doi:10.1086/677227

Cited by 151 publications

(144 citation statements)

References 55 publications

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“…Our hypotheses are also consistent with the empirical studies showing that feeling awe makes people become more generous and more likely to donate money to help others (Piff et al, 2015). The present study also builds on previous researches that examined how the desire for money can be weakened or strengthened (Briers, Pandelaere, Dewitte, & Warlop, 2006;Lasaleta et al, 2014). The results of the two experiments supported the hypothesis.…”

Section: Discussionsupporting

confidence: 91%

“…All participants wrote down sentences describing the experience in as much detail as possible. Following this, participants completed a seven-item scale (Lasaleta et al, 2014). In particular, participants rated the level of their agreement with these items: 'Money is important to me,' 'There is more to life than money (reverse coded),' 'People who chase money often chase away happiness (reverse coded),' 'The best things in life are free (reverse coded),' 'Frankly speaking, having money is something that I value,' 'To get the most of life, people need money,' and 'Frankly speaking, having money isn't all that important to me(reverse coded)' on a 7-point scale (1 = strongly disagree; 7 = strongly agree; α = .82).…”

Section: Materials and Proceduresmentioning

confidence: 99%

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Awe Weakens the Desire for Money

Jiang

Yin

Mei

et al. 2018

Journal of Pacific Rim Psychology

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This research examined whether feeling awe weakens people's desire for money. Two experiments demonstrated that, as a self-transcendent emotion, awe decreased people's money desire. In Experiment 1, recalling a personal experience of awe makes people place less importance on money, compared with recalling an experience of happiness and recalling a neutral experience. In experiment 2, we examined different variants of awe, such as negative awe and non-nature awe. Viewing images that elicited awe, no matter what kind of awe, can induce people to put less effort into obtaining money. Process evidence suggested that awe's weakening of money desire was due to its power to make people transcend their mundane concerns. Our findings have implications for willingness to donate, price sensitivity, religious practices, and economic utilities.

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Section: Discussionsupporting

confidence: 91%

Section: Materials and Proceduresmentioning

confidence: 99%

Awe Weakens the Desire for Money

Jiang

Yin

Mei

et al. 2018

Journal of Pacific Rim Psychology

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show abstract

“…Empathy promotes altruism which is also considered to be a value of the authentic. In another study on nostalgia and money, Lasaleta [43] through 6 experimental study found that nostalgia could weaken people's desire for money. The researchers manipulated nostalgia through an advertisement perusal task or instructions to recall an autobiographical event.…”

Section: Deepening Explore the Relevant Psychological Mechanismmentioning

confidence: 99%

Nostalgia Promoting Pro-Social Behavior and Its Psychological Mechanism

Li¹

2015

JSS

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Nostalgia is a kind of socio-emotional that refers to personal sentimentality caused by recalling objects, people, places, experiences or feelings from the past. Studies have found nostalgia has a positive effect on the mental health and can also promote pro-social behavior of individuals. This paper reviews the promoting effect of nostalgia on the altruism, commonweal and social rule and relational pro-social behaviors. Moreover, the author puts forward possible psychological mechanisms and theoretical explanations. Future studies should further investigate the relevant psychological mechanism and moderated effects of individual differences, the study on the refinement of the nostalgia and pro-social behavior researches.

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“…Participants in the immoral condition thought they could purchase fewer items than participants in the neutral condition. Their study demonstrates that perceptions of money's value depend on a situational factor that is logically unrelated to how much money can actually buy (see also Dubois, Rucker, and Galinsky 2012;Jonas, Greitemeyer, Frey, and Schulz-Hardt 2002;Lasaleta, Sedikides, and Vohs 2014;Wertenbroch, Soman, and Chattopadhyay 2007). Going beyond this past work, we examine whether perceptions of money's value depend on to whom the money belongs.…”

mentioning

confidence: 95%

Other People’s Money: Money’s Perceived Purchasing Power Is Smaller for Others Than for the Self

Polman

Effron

Thomas

2017

Journal of Consumer Research

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Nine studies find that people believe their money has greater purchasing power than the same quantity of others' money. Using a variety of products from socks to clocks to chocolates, we found that participants thought the same amount of money could buy more when it belonged to themselves versus others -a pattern that extended to undesirable products. Participants also believed their money -in the form of donations, taxes, fines, and fees -would help charities/governments more than others' money. We tested six mechanisms based on psychological distance, the endowment effect, wishful thinking, better-than-average biases, painof-payment, and beliefs about product preferences. Only a psychological distance mechanism received support. Specifically, we found that the perceived purchasing power of other people's money decreased logarithmically as others' psychological distance from the self increased, consistent with psychological distance's subadditive property. Further supporting a psychological distance mechanism, we found that framing one's own money as distant (vs. near) reduced the self-other difference in perceived purchasing power. Our results suggest that beliefs about the value of money depend on who owns it, and we discuss implications for marketing, management, psychology, and economics.

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Nostalgia Weakens the Desire for Money

Cited by 151 publications

References 55 publications

Awe Weakens the Desire for Money

Awe Weakens the Desire for Money

Nostalgia Promoting Pro-Social Behavior and Its Psychological Mechanism

Other People’s Money: Money’s Perceived Purchasing Power Is Smaller for Others Than for the Self

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