Articles tagged with Money
A recent study published in Psychological Science found that people's predictions of apology value are often inaccurate. The researchers used an experiment to test how individuals perceive apologies and discovered that those who imagined receiving an apology valued it more than those who actually received one.
A new study finds that outsourcing can lead to softened competition among firms, resulting in higher prices for consumers. The practice also leads to lost jobs for workers. Businesses may outsource to reduce costs, but the savings are often not passed on to consumers, instead being used to maintain profit margins.
A new study on commercialized climbing expeditions on Everest found that paying climbers tend to prioritize individual accomplishments over communal experiences. The research suggests that transformative experiences can reinforce an individualistic and competitive ethos, undermining feelings of camaraderie.
A new study by Daniel M. Bartels and Oleg Urminsky found that consumers struggle to connect with their future selves, leading to impatient consumption habits. When people feel a strong sense of identity with their future self, they are more patient and willing to save for long-term benefits.
A Northwestern University team analyzed Wheres's George? data to identify areas of high connectivity, finding that some borders split states, while others align with cultural segmentation. The study reveals the strength of local travel over long-distance relationships.
Research from University of Michigan Marketing Professor Scott Rick shows that tightwads and spendthrifts tend to spend about the same amount on gifts during Black Friday. This discrepancy arises due to differences in psychological pain associated with spending decisions, particularly when purchases are optional.
A survey of 11,888 Quebec adults found that nearly 70% have gambled in the past year and spend an average of $483. Researchers also identified higher risks among video lottery terminal users and online gamblers.
A study published in Social Cognitive & Affective Neuroscience found that a specific genetic variant, COMT-Val, is associated with an increased willingness to donate. Participants with this variant donated twice as much money to charity compared to those with the other variant, COMT-Met.
A Brown University-led study reveals significant geographic disparities in lead poisoning rates across Rhode Island, with some areas experiencing rates as high as 48.6% among young children. The analysis highlights the need for targeted cleanup efforts to address these disparities and mitigate the long-term effects of lead poisoning.
The African Successes project identifies and analyzes African successes, focusing on economic and political improvements, transparency, and freedom of press. Researchers are studying successful initiatives such as an anti-malaria campaign in Zambia and a cellphone-based money transfer system in Kenya.
A new study finds that people who think about time plan to spend more time with loved ones, while those who focus on money fill their schedules with work. The research suggests that prioritizing time for social connections can lead to increased happiness.
Research by University of Illinois finance professors Murillo Campello and Heitor Almeida finds that small firms face higher costs of financing when economic conditions worsen. They often re-invest profits before paying off creditors, leading to increased debt and potential financial distress.
A new study found that people who feel socially excluded are willing to engage in distasteful consumption, such as eating chicken feet or using illicit drugs, to fit into a group. Excluded individuals use consumption as a flexible and strategic way to commence new social relationships.
A new study reveals that people spend more when exposed to brands associated with saving money, but less when exposed to their slogans. The researchers found that participants who saw the Walmart slogan 'Save money. Live better.' were willing to spend $184 on average, compared to $94 for those who saw the brand name alone.
A new study by Cornell University Ph.D. candidate Christin Munsch found that men who are economically dependent on their female partners are five times more likely to cheat than those who contribute equally. In contrast, women who rely financially on their male partners are less likely to engage in infidelity.
After a decade-long search, Audubon's first published bird illustration of a running grouse has been discovered. The find sheds light on Audubon's development as an artist and provides a rare view of the Heath Hen, a subspecies that became extinct in the early 19th century.
The G8 Muskoka Initiative fell short of its target funding, with only $5 billion pledged over five years, despite annual global health funding requirements of $42.5 billion by 2015.
A new study published in Psychological Science found that physical contact from a female experimenter increases financial risk taking in adults. The researchers suggest that this effect is due to the way mothers use touch to make their babies feel secure, creating a sense of attachment and increased willingness to take risks.
A study found that shoppers frequently estimate how much they'll spend on unplanned items and are remarkably accurate. In-store slack refers to the mental budgeting strategy used by consumers to accommodate unforeseen purchases.
Scientists argue that a 'Global Fund for Health' would improve transparency and efficiency in international health aid. The current system masks variances, making it difficult to accurately trace health funding.
A 12-week self-guided program helps binge eaters stop binging for up to a year, saving an average of $447 per person per year. The program reduces costs on weight loss programs, over-the-counter medications, and supplements.
A study by University of Warwick and Cardiff University found that money's impact on happiness is linked to social rank, not income level. Being richer than others is key to life satisfaction.
Researchers found that the brain responds more strongly to a poor person receiving a financial reward than a rich person, even if the brain being studied belongs to the rich individual. This study suggests that the human brain is wired to respond to inequality, contradicting the prevailing view of human nature as solely self-interested.
A University of Illinois study identified five consumer segments at farmers' markets, including enthusiasts, recreational shoppers, and serious buyers. The research found that each market's personality attracts specific people and can be replicated by changing the location or time of day.
A study found that shoppers often expect to buy unplanned items and have a mental budget that leaves room for unexpected expenses. The researchers discovered that consumers with high impulsivity tend to overspend when they shop in aisles with little in-store slack.
Researchers at Duke University Medical Center found that the brain evaluates faces in two distinct ways: for quality of experience and economic value. The study used fMRI to measure brain activation while participants viewed faces and money, predicting how much they would pay to see a more attractive face.
Researchers found that the amygdala structure in the brain is critical for triggering caution when making gambles with potential losses. This study provides new evidence for the role of the amygdala in fear and anxiety, shedding light on economic behavior and emotional decision-making.
Researchers found that businesses can reduce waiting times by up to 50% by manipulating customer perception, using techniques such as fragmented lines and distractions. By designing well-structured lines and providing enjoyable experiences, businesses can decrease the subjective waiting duration, turning a long wait into a short one.
The report highlights the need for stronger institutional capacity and increased transparency to address climate finance bottlenecks. Development cooperation is crucial to ensure poor countries receive climate change funding on favorable terms.
A study published in Psychological Science shows that when distributing resources, people's ideas of fairness change depending on the item's value. Intrinsic values like food or vacation days are seen as fair to distribute equally, while market-based attitudes dominate for monetary rewards.
A study by John Coates and Lionel Page found that experienced traders outperform the market with a high Sharpe Ratio, indicating prudent risk-taking. The researchers also discovered that profit-sharing incentives encourage traders to lower risk variance.
As health insurance costs rise, doctors need to talk to patients about their financial situation to make informed treatment decisions. This conversation can help patients choose more affordable treatments and avoid unnecessary expenses.
A study led by Brigham Young University professor Katie Liljenquist found that clean-smelling environments, such as those with citrus-scented Windex, can improve ethical behavior. Participants in clean-scented rooms were more likely to return a higher share of money in a trust game and show greater interest in volunteering.
Researchers have developed a way to accurately predict power outages in advance of a hurricane, allowing utilities to plan crew requests and locations more effectively. The study's findings could help save utilities money and restore power faster after the storm.
A new study found that buying green products can set up moral credentials, leading people to behave more selfishly. Researchers discovered that participants who bought green products were more likely to lie and steal than those who purchased conventional products.
Researchers discovered a link between declining financial skills and the development of Alzheimer's disease. Participants with mild cognitive impairment (MCI) who showed poorer money management abilities were more likely to progress to dementia.
A study published in Psychological Science found that reminders of money can reduce feelings of pain and social exclusion. The researchers suggest that acquired symbolic value of money can influence responses to both emotional and physical pain.
Researchers found that nearly 50% of people shown fake footage were prepared to believe the video version rather than what they actually saw. Fake video evidence was used in an experiment to test whether it could induce individuals to accuse another person of doing something they never did.
A study of over 40,000 participants found that those who prefer immediate gratification are more likely to show other impulsive behaviors such as smoking and infidelity. The research suggests that individuals with an impulsive money-today attitude may ignore long-term consequences, leading to financial imprudence.
University of Illinois researchers found that prioritizing sites closer to people can increase financial support for conservation. The study suggests compromising on ecological value for locations near human populations can improve outcomes.
A Harvard University study found that punishing or rewarding individuals based on accident outcomes can shape behavior, rather than their intention.
A new analysis found that cocaine contamination is widespread in US paper money, with 95% of banknotes from Washington, D.C. containing the substance. The study suggests that cocaine abuse may be on the rise in some areas and could help raise public awareness about its use.
Research by the American Psychological Association found that while money may improve life's comfort level, it doesn't necessarily contribute to happiness or life's pleasant moments. A focus on psychological wealth can help people adapt to good and bad events, providing a more sustainable path to happiness.
Researchers found that counting money reduced social distress and physical pain compared to counting paper, while thinking about finances increased these negative reactions. The study suggests that the mere idea of money has considerable psychological power.
A Michigan State University study suggests that social norms significantly impact Chinese citizens' decisions to participate in conservation programs like Grain to Green. The research found that when neighbors enroll in the program, it encourages others to do so as well.
Research shows that global health funding has quadrupled from $5.6 billion in 1990 to $21.8 billion in 2007, with private donors displacing governments as the major channels of funding. However, many poorest countries still receive less aid than wealthier nations.
A new study in the Journal of Consumer Research found that drawing consumers' attention to opportunity costs leads to different purchasing decisions. By explicitly naming opportunity costs, consumers become more price sensitive and tend to choose cheaper options.
In a first-of-its-kind study, Americans ranked access to care as their top priority when considering spending their own money on health products and services. Respondents also showed a preference for preventive healthcare services but were dissatisfied with their quality.
Experts warn that the buy-to-let market will survive the recession, but smaller private landlords will struggle to compete. The report suggests that lenders will favor established properties over new builds in city centers, limiting geographical access for investors.
The US Department of Homeland Security has successfully tested new camera prototypes in a simulated bomb attack, with 14 out of 16 surviving without image degradation. The cameras were designed to be rugged and affordable for use in mass transit venues, where full surveillance systems are not feasible.
Introducing congestion pricing at airports could reduce airport congestion and delays, saving airlines money. However, some airports with monopoly airlines may not benefit from this approach, and passengers may need to adjust their plans to arrive earlier.
Researchers found that demand for pain relief is almost completely dependent on recent past pain experience and available cash. The study's results suggest that the value of pain relief is flexible and cannot be predicted by individual behavior, with significant economic implications.
A study by University of Bonn researchers found that the brain's ventro-medial prefrontal cortex is less active when faced with a low-wage scenario, despite being aware of the true purchasing power remaining the same. This confirms the existence of the money illusion and offers insights into its cerebro-physiological processes.
A forthcoming study by North Carolina State University economists found that players who perform well early in the season have an incentive to maintain their high level of performance into the middle part of the season. This is because they are competing for a top-30 finish and a spot in the Tour Championship, which guarantees them mon...
A North Carolina State University study reveals painted road markings outperform thermoplastics in reflecting headlights, helping states comply with federal safety standards and reduce painting costs. The research found that paint reflects more light when driven in the direction of application, saving states millions.
A study published in the Journal of Labor Economics found that immigrants to Sweden who change their foreign-sounding names experience an increase in earnings, with African, Asian, and Slavic immigrants seeing a 141% rise. The study suggests that name changes improve job interview chances and employment probabilities.
A groundbreaking study by MSU researchers has pinpointed four major factors that make up the total experience: benefit, convenience, price, and environment. This knowledge can help businesses allocate resources to enhance the customer experience and gain a competitive advantage.
Researchers found that individuals with short serotonin transporter gene and 7-repeat allele of the DRD4 gene invest more in risky investments. The study suggests that genetics play a role in predicting financial risk-taking, but experience and upbringing also contribute to investor behavior.
A new study in Journal of Consumer Research finds that gifts from family members have great symbolic value, treated with care, and become surrogate family members. Families sustain their heritage by imposing hierarchies on assets, expanding our understanding of inalienable wealth.
Men are more likely to give money to someone in their neighborhood if they give at all. Women tend to be more generous and give equal amounts to both groups. The study's findings have implications for fundraisers, suggesting charities should focus on relationships between donors and causes to ensure ingroup connection.