Abstract
A thriving field of inquiry, the psychological science of money has recently witnessed an upsurge in research attention. In the present volume, we bring together and integrate a number of theoretical perspectives on the question of ‘how does money affect people’s mind, brain, and behavior?’ Importantly, we go beyond previous reviews by zooming in on the biological and psychological processes—triggered by money—that shape people’s experiences and behavior. Three central topics, which recur throughout the volume, are as follows: First, researchers have studied the time course by which the human mind processes money, identifying a crude and quick processing stage that occurs directly after money-related stimuli are perceived. Second, researchers have studied the biological underpinnings of money, pinpointing the role of the reward circuit (e.g., the ventral striatum) in processing money. Third, researchers have studied how money inputs into meaning-making processes that help people to make sense of the situation they find themselves in. Classic and recent insights are discussed in the context of each of these themes, with a special focus on the link between money and behavioral outcomes (e.g., performance, decisions, cooperation). As such, the present volume works towards a broad, yet process-oriented understanding of the impact of money on human action.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
References
Balleine, B. W., & Dickinson, A. (1998). Goal-directed instrumental action: Contingency and incentive learning and their cortical substrates. Neuropharmacology, 37, 407–419.
Beck, S. M., Locke, H. S., Savine, A. C., Jimura, K., & Braver, T. S. (2010). Primary and secondary rewards differentially modulate neural activity dynamics during working memory. PLoS One, 5, e9251.
Bijleveld, E., Custers, R., & Aarts, H. (2012). Human reward pursuit: From rudimentary to higher-level functions. Current Directions in Psychological Science, 21, 194–199.
Blakemore, S. J., & Robbins, T. (2012). Decision-making in the adolescent brain. Nature Neuroscience, 15, 1184–1191.
Bless, H., Fiedler, K., & Strack, F. (2004). Social cognition: How individuals construct social reality. East Sussex, England: Psychology Press.
Breland, K., & Breland, M. (1961). The misbehavior of organisms. American Psychologist, 16, 681–684.
Buechel, E. C., & Morewedge, C. K. (2014). The (relative and absolute) subjective value of money. In E. Bijleveld & H. Aarts (Eds.), The psychological science of money. New York: Springer.
Capa, R. L., Bouquet, C. A., Dreher, J.-C., & Dufour, A. (2013). Long-lasting effects of performance-contingent unconscious and conscious reward incentives during cued task-switching. Cortex, 49, 1943–1954.
Capa, R. L., & Custers, R. (2014). Conscious and unconscious influences of money: Two sides of the same coin? In E. Bijleveld & H. Aarts (Eds.), The psychological science of money. New York: Springer.
Carter, T. J. (2014). The psychological science of spending money. In E. Bijleveld & H. Aarts (Eds.), The psychological science of money. New York: Springer.
Custers, R., & Aarts, H. (2010). The unconscious will: How the pursuit of goals operates outside of conscious awareness. Science, 329, 47–50.
Deci, E. L., Koestner, R., & Ryan, R. M. (1999). A meta-analytic review of experiments examining the effects of extrinsic rewards on intrinsic motivation. Psychological Bulletin, 125, 627–668.
Deci, E. L., & Ryan, R. M. (1985). Intrinsic motivation and self-determination in human behavior. New York: Plenum.
Dehaene, S., Changeux, J.-P., Naccache, L., Sackur, J., & Sergent, C. (2006). Conscious, preconscious, and subliminal processing: A testable taxonomy. Trends in Cognitive Sciences, 10, 204–211.
Furnham, A., & Argyle, M. (1998). The psychology of money. East Sussex, England: Psychology Press.
Graeber, D. (2011). Debt: The first 5,000 years. New York: Melville House.
Huberfeld, R., & Dannon, P. N. (2014). Pathological gambling: Who gains from others’ losses? In E. Bijleveld & H. Aarts (Eds.), The psychological science of money. New York: Springer.
Kahneman, D., & Frederick, S. (2002). Representativeness revisited: Attribute substitution in intuitive judgment. In T. Gilovich, D. Griffin, & D. Kahneman (Eds.), Heuristics of intuitive judgment: Extensions and applications. New York: Cambridge University Press.
Kassam, K. S., Morewedge, C. K., Gilbert, D. T., & Wilson, T. D. (2011). Winners love winning and losers love money. Psychological Science, 22, 602–606.
Krug, M. K., & Braver, T. S. (2014). Motivation and cognitive control: Going beyond monetary incentives. In E. Bijleveld & H. Aarts (Eds.), The psychological science of money. New York: Springer.
Kuhnen, C. M., & Knutson, B. (2005). The neural basis of financial risk taking. Neuron, 47, 763–770.
Lea, S. E. G., & Webley, P. (2006). Money as tool, money as drug: The biological psychology of a strong incentive. Behavioral and Brain Sciences, 29, 161–209.
Lea, S. E. G., & Webley, P. (2014). Money: Metaphors and motives. In E. Bijleveld & H. Aarts (Eds.), The psychological science of money. New York: Springer.
Marden, J. H. (1984). Remote perception of floral nectar by bumblebees. Oecologia, 64, 232–240.
Mead, N. L., & Stuppy, A. (2014). Two sides of the same coin: Money can promote and hinder interpersonal processes. In E. Bijleveld & H. Aarts (Eds.), The psychological science of money. New York: Springer.
Moller, A., & Deci, E. L. (2014). The psychology of getting paid: An integrated perspective. In E. Bijleveld & H. Aarts (Eds.), The psychological science of money. New York: Springer.
Nelms, T. C., & Maurer, B. (2014). Materiality, symbol and complexity in the anthropology of money. In E. Bijleveld & H. Aarts (Eds.), The psychological science of money. New York: Springer.
Osborne, J. L., & Williams, I. H. (2001). Site constancy of bumble bees in an experimentally patchy habitat. Agriculture, Ecosystems & Environment, 83, 129–141.
Robinson, T. E., & Berridge, K. C. (2008). Review. The incentive sensitization theory of addiction: Some current issues. Philosophical Transactions of the Royal Society of London. Series B, Biological Sciences, 363, 3137–3146.
Ryan, R. M., & Deci, E. L. (2000). Self-determination theory and the facilitation of intrinsic motivation, social development, and well-being. American Psychologist, 55, 68–78.
Samanez-Larkin, G. R., Hagen, T. A., & Weiner, D. J. (2014). Financial decision making across adulthood. In E. Bijleveld & H. Aarts (Eds.), The psychological science of money. New York: Springer.
Vohs, K. D., Mead, N. L., & Goode, M. R. (2006). The psychological consequences of money. Science, 314, 1154–1156.
Vohs, K. D., Mead, N. L., & Goode, M. R. (2008). Merely activating the concept of money changes personal and interpersonal behavior. Current Directions in Psychological Science, 17, 208–212.
Weatherford, J. M. (1997). The history of money. New York: Random House.
Zedelius, C. M., Veling, H., Custers, R., Bijleveld, E., Chiew, K. S., & Aarts, H. (2014). A new perspective on human reward research: How consciously and unconsciously perceived reward information influences performance. Cognitive, Affective & Behavioral Neuroscience.
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2014 Springer Science+Business Media New York
About this chapter
Cite this chapter
Bijleveld, E., Aarts, H. (2014). A Psychological Perspective on Money. In: Bijleveld, E., Aarts, H. (eds) The Psychological Science of Money. Springer, New York, NY. https://doi.org/10.1007/978-1-4939-0959-9_1
Download citation
DOI: https://doi.org/10.1007/978-1-4939-0959-9_1
Published:
Publisher Name: Springer, New York, NY
Print ISBN: 978-1-4939-0958-2
Online ISBN: 978-1-4939-0959-9
eBook Packages: Behavioral ScienceBehavioral Science and Psychology (R0)