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Article: Money: An Integrated Review and Synthesis From a Psychological Perspective
Title | Money: An Integrated Review and Synthesis From a Psychological Perspective |
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Authors | |
Keywords | money psychological effects integrated review unified perspective |
Issue Date | 2020 |
Publisher | American Psychological Association. The Journal's web site is located at http://www.apa.org/journals/gpr.html |
Citation | Review of General Psychology, 2020, v. 24 n. 2, p. 172-190 How to Cite? |
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. |
Persistent Identifier | http://hdl.handle.net/10722/286106 |
ISSN | 2023 Impact Factor: 3.6 2023 SCImago Journal Rankings: 1.477 |
ISI Accession Number ID |
DC Field | Value | Language |
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dc.contributor.author | Wang, X | - |
dc.contributor.author | Chen, Z | - |
dc.contributor.author | Krumhuber, EG | - |
dc.date.accessioned | 2020-08-31T06:59:12Z | - |
dc.date.available | 2020-08-31T06:59:12Z | - |
dc.date.issued | 2020 | - |
dc.identifier.citation | Review of General Psychology, 2020, v. 24 n. 2, p. 172-190 | - |
dc.identifier.issn | 1089-2680 | - |
dc.identifier.uri | http://hdl.handle.net/10722/286106 | - |
dc.description.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. | - |
dc.language | eng | - |
dc.publisher | American Psychological Association. The Journal's web site is located at http://www.apa.org/journals/gpr.html | - |
dc.relation.ispartof | Review of General Psychology | - |
dc.rights | ©American Psychological Association, [Year]. This paper is not the copy of record and may not exactly replicate the authoritative document published in the APA journal. Please do not copy or cite without author's permission. The final article is available, upon publication, at: [ARTICLE DOI] | - |
dc.subject | money | - |
dc.subject | psychological effects | - |
dc.subject | integrated review | - |
dc.subject | unified perspective | - |
dc.title | Money: An Integrated Review and Synthesis From a Psychological Perspective | - |
dc.type | Article | - |
dc.identifier.email | Wang, X: xijingw@hku.hk | - |
dc.identifier.email | Chen, Z: chenz@hku.hk | - |
dc.identifier.authority | Chen, Z=rp00629 | - |
dc.description.nature | link_to_subscribed_fulltext | - |
dc.identifier.doi | 10.1177/1089268020905316 | - |
dc.identifier.scopus | eid_2-s2.0-85081619544 | - |
dc.identifier.hkuros | 313672 | - |
dc.identifier.volume | 24 | - |
dc.identifier.issue | 2 | - |
dc.identifier.spage | 172 | - |
dc.identifier.epage | 190 | - |
dc.identifier.isi | WOS:000537465500007 | - |
dc.publisher.place | United States | - |
dc.identifier.issnl | 1089-2680 | - |