Comments on: Psychology of Money: What Do We Want To Know?

By: Meryn Stol

Meryn Stol — Wed, 02 Apr 2008 22:31:00 +0000

I'd like to know how much findings from neuroeconomics actually say about human selfishness, cooperation/defection strategies and altruism when it seems that "priming" someone with the concept of money (or "framing" a problem in monetary terms) causes people to use a different part of their brain, as explained in your previous post.

Maybe all those experiments need to be redone in a "social" context?
If group performance in social contexts is better, this might hint that using monetary transactions for coordinating activities blocks humans from realizing their collective potential.

By: kk

kk — Tue, 01 Apr 2008 18:25:00 +0000

I want to know
1, What is one's target amount (of course inflation adjusted) of money?
2, Why money is addictive? Is it money or power that money gives is addictive?
3, If I give you the target amount today, what will you do with rest of your life?
4, I think 3rd question is being answered by 4th or vice versa: why money need is insatiable?

By: Jo

Jo — Tue, 01 Apr 2008 14:15:00 +0000

A long time ago I set the topic "Pay is a motivator" as a debate for a large class of 2nd/3rd year Psych Honors students. A 2nd year piped up rather disdainfully. Of course pay is a motivator. Money is a secondary reinforcer and any psychologist who is worth her salt would know that.

Mmmmm. . .

One of the more practical things I have been involved in has been the management of pay structures in large organizations. There are a lot of good rules of thumb, all loosely based on classical psychology principles for efficiently bringing together the vast mass of decisions that have to be made for pay to be fair and motivating within in an organization . . . if you are interested.

By: TheLocoMono

TheLocoMono — Mon, 31 Mar 2008 19:00:00 +0000

Wow, sounds interesting. I am looking forward to reading this week's post.

By: Miss Cellania

Miss Cellania — Mon, 31 Mar 2008 16:53:00 +0000

Ooh, what a broad subject! Things I've seen on the internet make me wonder about the difference between how men and women view money. In an anonymous forum, you hear attitudes people would never speak out loud to people who know them. I wonder how prevalent such cynical views really are.

By: R.B.

R.B. — Mon, 31 Mar 2008 13:48:00 +0000

I am very excited to read this one!! Extrinsic reward and all that jazz. I'm a sophmore Psych major (who is a little more than passionate about his major) and I have to say that, you give a nerd something to read haha.