the Motivating Power of Money: Understanding Money’S Unique Effect on Motivation

Nora Moran, Virginia Tech, USA
Paul Herr, Virginia Tech, USA
Previous research suggests that money can increase motivation to achieve personal goals. We demonstrate that money increases pursuit of goals that validate competence (high attainability), but reduces pursuit of goals that challenge competence (low attainability). Thus, this research identifies the needs made salient by activating money —validating one’s abilities.
[ to cite ]:
Nora Moran and Paul Herr (2015) ," the Motivating Power of Money: Understanding Money’S Unique Effect on Motivation ", in NA - Advances in Consumer Research Volume 43, eds. Kristin Diehl and Carolyn Yoon, Duluth, MN : Association for Consumer Research, Pages: 641-642.