Money Priming and Trust among Children: Evidence of a Field Experiment

Subject Areas : Labor and Demographic Economics

Zahra Ebrahimi ¹ , Masoud Homayounifar ² , Mehdi Feizi ³

1 - Master of Economic Development, Ferdowsi University of Mashhad, Mashhad, Iran
2 - Associate Professor, Department of Economics, Ferdowsi University of Mashhad, Mashhad, Iran
3 - Assistant Professor of Economics, Ferdowsi University of Mashhad

Received: 2020-04-12 Accepted : 2021-02-08 Published : 2020-09-22

Keywords: Money Priming, Trust Game, Field Experiment,

Abstract :

In addition to typical functions of money such as a medium of exchange, a means of evaluation, and storing the value of goods and services, it also has a symbolic character. Money due to its symbolic character can be used as a social goal in regulating interpersonal and intrapersonal relationships. On the one hand, priming is one of the most important ways to highlight the symbolic aspect of money. On the other hand, trust is one of the essential aspects of human relations. We conduct a trust game experiment on 511 fourth-grade girl students from the public schools in Mashhad. The results showed that children primed with money in the experimental group, on average, trust more than the control group.

References:

-انصاری سامانی، حبیب، پور فرج، علی‌رضا، زارع، مسعود، امینی، عباس (1394). مقدمه‌ای بر اقتصاد رفتاری: مفهوم، روش‌شناسی و شیوه‌های استخراج ترجیحات. اقتصاد تطبیقی، (1)2: 69-37.

-بلالی، اسماعیل، جعفری، راحله، پاک‌سرشت، سلیمان، عیسی زاده، سعید (1393). مطالعه و تحلیل الگوهای جامعه‌پذیری اقتصادی کودکان شهر همدان. مطالعات و تحقیقات اجتماعی در ایران، (3)2: 391-365.

-دلاور، علی (1390). روش تحقیق در روان‌شناسی و علوم تربیتی، تهران: نشر ویرایش.

-رهبر، فرهاد، متوسلی، محمود و امیری، میثم (1392). اقتصاددانان رفتاری و نظریه‌های آن‌ها، برنامه‌ریزیوبودجه، (11)18: 165-133.

-خزاعی، مرضیه (1396). بررسی تأثیر ابعاد شخصیت بر تصمیم افراد در بازی سرمایه‌گذاری (مطالعه موردی: دانشجویان دانشگاه فردوسی مشهد). پایان‌نامه کارشناسی ارشد. دانشگاه فردوسی مشهد.

-فرجیان، فاطمه (1392). رابطه اعتماد ادراک ‌شده کارکنان به مدیران در بهبود عملکرد کارکنان (مطالعه موردی دانشگاه آزاد اسلامی واحد قزوین). فصلنامه مدیریت توسعه و تحول، (14)1392، 81-71.

-فیضی، مهدی. (1395). اقتصاد هویت. تهران: نگاه معاصر.

-Berg, J., Dickhaut, J., & McCabe, K., (1995). Trust, reciprocity and social history. Games and Economic Behavior, 10: 122–142.

-Brülhart, M., Usunier, J. (2012). Does the trust game measure trust? Economics Letters, 115: 20–23. 

-Camerer, CF., & Fehr, E. (2002). Measuring social norms and preferences using experimental games: A guide for social scientists.

-Camerer, CF., & Loewenstein, G. (2004). Behavioral Economics: Past, Present, Future. In Camerer, CF., Loewenstein, G., & Rabin, M.  (Eds.), Advances in Behavioral Economics. Princeton University Press. 3-51.

-Cohn, A., & Maréchal, MA. (2016). Priming in Economics. Working Paper No. 226. University of Zurich.

-Crawford, J., Fournier, A., Ruscio, J. (2017). Does Subjective SES Moderate the Effect of Money Priming on Socioeconomic System Support? A Replication of Schuler and Wänke (2016). Social Psychological and Personality Science.1-7.

-Croson, R., & Buchan, N. (1999). Gender and culture: International experimental evidence from trust games. The American Economic Review, 89(2): 386-391.

-Deflem, M. (2003). The Sociology of the Sociology of Money: Simmel and the Contemporary Battle of the Classics, Journal of Classical Sociology, 3(1): 67–96.  

-Drouvelis, M., Metcalfe, R., & Powdthavee, N. (2015). Can priming cooperation increase public good contributions? Theory and Decision, 1-14.

-Evans, A. M., & Krueger, J. I. (2009). The psychology (and economics) of trust. Social and Personality Psychology Compass, 3(6): 1003–1017.

-Evans, A. M., & Krueger, J. I. (2010). Elements of trust: Risk and perspective-taking. Journal of Experimental Social Psychology, 47: 171–177.

-Gasiorowska, A., Zaleskiewicz, T., & Wygrab, S. (2012). Would you do something for me? The effects of money activation on social preferences and social behavior in young children. Journal of Economic Psychology, 33: 603–608.

-Gasiorowska, A., & Helka, A. M. (2012). Psychological consequences of money and money attitudes in dictator game. Polish Psychological Bulletin, 43: 20–26.

-Gasiorowska, A., Chaplin, L. N., Zaleskiewicz, T., Wygrab, S., & Vohs, K. D. (2016). Money Cues Increase Agency and Decrease Prosociality Among Children: Early Signs of Market-Mode Behaviors.  Psychological Science, 27(3): 331-344.

-      Grenier, M., Bertrand, T., Pepin, E., Laflamme, P. D., Webster, L., Wheeler, L., & Standing, L. (2012). The impact of money on cooperation: Money does not change the world. 

-Innocenti, A., & Pazienza, M. G. (2006). Altruism and gender in the trust game. Labsi Working Paper No. 5/2006.

-Knack, S. (2001). Trust, associational life and economic performance. In J.F. Helliwell (Ed.), The contribution of human and social capital to sustained economic growth and well-being. Quebec: Human Resources Dev.Canada.

-Lea, S.E.G., & Webley, P. (2006). Money as tool, money as drug: The biological psychology of a strong incentive. Behavioral and Brain Sciences, 29: 161–209.

-Lodder, P., Ong, H. H., Grasman, R. P. P. P., & Wicherts, J. M. (2019). A comprehensive meta-analysis of money priming. Journal of Experimental Psychology: General, 148(4): 688–712.

-Posten, A. C., Ockenfels, A., & Mussweiler, T. (2014). How activating cognitive content shapes trust: A subliminal priming study. Journal of Economic Psychology, 41: S. B., Burt, R. S., & Camerer, C. (1998). Not so different after all: A cross-discipline view of trust. Academy of Management Review, 23(3): 393-404.

-Schuler, J., & Wanke, M. (2016). A fresh look on money priming: Feeling privileged or not makes a difference. Social Psychological and Personality Science, 7: 366–373.

-Sutter, M., & Kocher, M. G. (2007). Trust and trustworthiness across different age groups. Games and Economic Behavior, 59(2), 364-382.

-Thaler, RH. )2016(. Behavioral economics: Past, present, and future. American Economic Review. 106: 1577–1600.

-Trzcińska, A., & Sekścińska, K. (2016). The effects of activating the money concept on perseverance and the preference for delayed gratification in children. Front. Psychology. 7:609. 

-Trzcińska, A. (2020). Money priming and children’s self-evaluations. Current Psychology.

-Vohs, K.D., Mead, N.L., & Goode, M.R. (2006). Psychological consequences of money. Science, 314: 1154–1156.

-Vohs, K.D, Mead, N.L, & Goode, M.R. (2008). Merely Activating the Concept of Money Changes Personal and Interpersonal Behavior. Current Directions in Psychological Science, 17(3): 208–212.

-        Zaleskiewicz, T., Gasiorowska, A., & Vohs, K. D. (2017). The psychological meaning of money. In Economic Psychology. John Wiley and Sons Inc.