There’S No “You” in Money: Thinking of Money Increases Egocentrism

Eugene M. Caruso, University of Chicago, USA
Nicole L. Mead, Florida State University, USA
Kathleen D. Vohs, University of Minnesota, USA
Money is a potent incentive in consumer societies because it enables consumers to obtain the goods and services necessary to achieve their personal needs (Lea and Webley 2006). Because money tends to heighten personal goal pursuit and reduce dependency on others (Vohs, Mead, and Goode 2008), thoughts of money may increase attention to the self and away from others, thereby causing people to be relatively more egocentric and less sensitive to the perspectives of others. Four experiments support this hypothesis, shedding new light on how money affects human cognition and behavior in both social and economic contexts.
[ to cite ]:
Eugene M. Caruso, Nicole L. Mead, and Kathleen D. Vohs (2009) ,"There’S No “You” in Money: Thinking of Money Increases Egocentrism", in NA - Advances in Consumer Research Volume 36, eds. Ann L. McGill and Sharon Shavitt, Duluth, MN : Association for Consumer Research, Pages: 206-209.