Question

Explain the influence of money on the behavior of man

Answer 1

1. Social and Business Value

A 2004 study proved that money alters how you value your time and effort. Researchers James Heyman and Dan Ariely created an experiment by which they could measure how motivated a person was to complete a task based upon money. Subjects were asked to drag circles across a computer screen. One group was asked to do this as a “favor.” Another group was asked to do it for $0.50, and the last group was offered $5. After timing the subjects, it was actually the group asked to perform the task as a favor that did it the fastest. Next was the $5 group, and last was the $0.50 group.

2. Self-Sufficiency and Service
When given a very difficult and even impossible task, with instructions that help was available, it was the money-related group that seemed the most intent on getting the job done alone, even when it was not possible to finish the task solo. The non-money group, on the other hand, tended to ask for assistance. The study concluded that money-conscious individuals are more self-sufficient than their peers, particularly when money is made the focus.



4. Ethics

From cutting off another vehicle at a stop sign, to cheating at a game, to taking more candy than offered, the wealthiest subjects were those most likely to break the rules, even when a researcher indicated that taking more candy would result in less for children. The study authors, Paul K. Piff, et al., noted that those who perceived themselves to be in a higher class were the most likely to engage in unethical behavior, particularly when a symbol of wealth was introduced, such as cutting off a pedestrian when in a luxury car, for example.

The study labeled the behavior “self-interest maximization,” an idea that suggests those who have the most money or occupy higher classes are more likely to take a “what’s in it for me?” attitude. They actively work toward the most benefit for themselves. The study points out that these individuals make excellent business leaders, since they often work the hardest to get the most out of a contract or job.

5. Addiction

Many addictions begin because a person gets a positive response from a certain type of behavior. Whether it’s a happy feeling you get from shopping or a thrill that comes from gambling, actively seeking out that behavior again and again for the same outcome can trigger an addiction. This is called a “behavioral or process addiction” – a compulsive behavior not motivated by dependency on an addictive substance, but rather by a process that leads to a seemingly positive outcome.