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The results of the tests suggest that scarcity of any kind creates a tendency to borrow a needed resource without thinking through the costs and benefits of that strategy. This effect lies behind the popularity of short-term, high-interest loans among the poor. 
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Money may make the world go 'round' but respect is what will make you happy. New studies have shown that the respect you've earned is worth more than what is in the bank. More on HAPPINESS: http://www.scoop.it/t/science-news?tag=happiness
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Financial loss can lead to irrational behavior. Now, research by Weizmann Institute scientists reveals that the effects of loss go even deeper: Loss can compromise our early perception and interfere with our grasp of the true situation. The findings, which recently appeared in the Journal of Neuroscience, may also have implications for our understanding of the neurological mechanisms underlying post-traumatic stress disorder.
Cindy Tam's comment,
June 13, 2012 2:54 PM
Funny, you see this behavior sometimes while playing poker. http://www.ehow.com/about_4673664_does-full-tilt-mean-poker.html
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What one financial problem would cause couples to cancel a wedding?
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It turns out, money might buy happiness after all. And, it might not cost as much as you think.
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Knowing that your colleagues and peers earn more than you can actually raise your satisfaction levels, but only if you are under 45, according to new research from the University of St Andrews.
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According to a recent survey of two thousand women, a staggering 25 percent would rather win America’s Next Top Model than a Nobel Prize. Picking beauty over brains might be a bit shallow, but is it also a bad choice? In other words: is being attractive a blessing or a curse?
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What does 'free time' mean to you? When you're not at work, do you pass the time -- or spend it? The difference may impact how happy you are. A new study shows people who put a price on their time are more likely to feel impatient when they're not using it to earn money. And that hurts their ability to derive happiness during leisure activities. Articles about HAPPINESS: http://www.scoop.it/t/science-news?page=1&tag=happiness
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Thus, the very success of science can be viewed as evidence that free will exists. "In my view, if your theory says we don't have free will, then empirical evidence shows that your theory is wrong and you better go back and come up with a better one. I think that [reductionists] just haven't taken the time to properly look at emergence, complexity and how the mind works because if they had, they would not make such self-defeating statements that undermine the meaning of what they themselves are saying."
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Slow Money is a market-based solution which seeks nothing less than to overhaul the way we relate to our world through money. "Instead of venture capital bankrolling far flung high tech start-ups, Tasch hopes to see 'nurture capital' funding local merchants and producers who, in turn, plug half of their profits back into their communities, ensuring one small local virtuous circle that values soil fertility, carrying capacity, a sense of place, care of the commons, diversity...and economic health as much as financial return."
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A scarcity of women leads guys to compete with each other financially, discount the future, decrease their desire to save, and simply make poor financial choices.
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Human capital endowments passed from father to son—perhaps in the form of smarts, advice, work ethic, or some other intangible—could be more important to a son's success than the size of dad's paycheck.
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I’d like to get the Freakonomics guys to explain this paradox of K-12 education: The more money you spend for your children’s education, the fewer days they’ll actually be educated.
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At TEDxCambridge, Michael Norton shares fascinating research on how money can, indeed buy happiness -- when you don't spend it on yourself. Listen for surprising data on the many ways pro-social spending can benefit you, your work, and (of course) other people.
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From
phys
Using smartphones or tablets as digital 'wallets' will be common within a decade, largely replacing cash and credit cards, according to a Pew Research survey released on Tuesday.
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What role does your brain play in the pursuit and handling of money? Brian Knutson, a neuroscientist, studies the brain as it relates to money. Knutson uses special MRI images in his experiments while people are handling money. One thing he’s found is that when cash is offered to someone, dopamine is released in the nucleus accumbens, a part of the brain that is involved in reward and addiction. Articles about NEUROSCIENCE: http://www.scoop.it/t/science-news?page=1&tag=neuroscience
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Does being wealthy make you into an insensitive jerk? Science is offering some unsettling answers. Science is finding that money actually changes how you think and act—and not for the better
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Sellers have long charged a premium for objects that confer some kind of social status, even if they offer few, if any, functional benefits over cheaper ...
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Can money make you happy? An entire quantitative field of study, happiness economics, has grown up around that question.
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"There's always an opportunity to give money, if that's an option," says Mary Ellen Iskenderian. "But giving money is just not sufficient. You've got to really make sure that the people that you're giving your money to are keeping their..
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