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The Effect of Money Attitude on Money Perception on Size, Number, and Weight

Author

Listed:
  • Yilin Lan
  • Wanyi Guan
  • Yunda Qiu
  • Wankun Hu
  • Aitao Lu
  • Yue Wu
  • Linyu Zhang
  • Pingfang Song
  • Lu Wang

Abstract

The current study primarily investigated the effect of money attitude on money perception. We asked participants to estimate the size of paper money (Experiment 1), the number of money sheets (Experiment 2), and the weight of paper money (Experiment 3), and measured their attitude toward money by Money Ethic Scale The data was submitted to a 2 (two types of Money attitudes: Money Worshiper and Money Repeller)×3 (three levels of image size in Experiment 1, or three levels of number of money papers in Experiment 2, or three levels of descriptive money paper weight in Experiment 3)×5 (five types of different nominal amount). The results showed that all the participants overestimated the size of paper money, the number of money sheets, and the weight of paper money, but such overestimation was more salient in money-worshiping group. Moreover, the perception of money varied as a function of money attitude. That is, the more people value the money, the larger and heavier they perceived the money.

Suggested Citation

  • Yilin Lan & Wanyi Guan & Yunda Qiu & Wankun Hu & Aitao Lu & Yue Wu & Linyu Zhang & Pingfang Song & Lu Wang, 2016. "The Effect of Money Attitude on Money Perception on Size, Number, and Weight," Journal of Social Economics, Research Academy of Social Sciences, vol. 3(4), pages 185-197.
    • Handle: RePEc:rss:jnljse:v3i4p3
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    References listed on IDEAS

    as
    1. David Dubois & Derek D. Rucker & Adam D. Galinsky, 2010. "The Accentuation Bias: Money Literally Looms Larger (and Sometimes Smaller) to the Powerless," Post-Print hal-00621067, HAL.
    2. David Dubois & Derek D. Rucker & Adam D. Galinsky, 2010. "The Accentuation Bias: Money Literally Looms larger to the Powerless," Post-Print hal-00701816, HAL.
    3. Lea, S. E. G., 1981. "Inflation, decimalization and the estimated sizes of coins," Journal of Economic Psychology, Elsevier, vol. 1(1), pages 79-81, January.
    4. Elisaveta Sardžoska & Thomas Tang, 2015. "Monetary Intelligence: Money Attitudes—Unethical Intentions, Intrinsic and Extrinsic Job Satisfaction, and Coping Strategies Across Public and Private Sectors in Macedonia," Journal of Business Ethics, Springer, vol. 130(1), pages 93-115, August.
    5. Furnham, Adrian, 1983. "Inflation and the estimated sizes of notes," Journal of Economic Psychology, Elsevier, vol. 4(4), pages 349-352, December.
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