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How Money Scarcity Influences Individuals' Cognitive Control

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Title: How Money Scarcity Influences Individuals' Cognitive Control
Language: English
Authors: Qiangqiang Wang (ORCID 0000-0003-4325-9701), Shengmin Liu, Feng Wang, Wendian Shi (ORCID 0000-0003-3605-0782)
Source: SAGE Open. 2024 14(2).
Availability: SAGE Publications. 2455 Teller Road, Thousand Oaks, CA 91320. Tel: 800-818-7243; Tel: 805-499-9774; Fax: 800-583-2665; e-mail: journals@sagepub.com; Web site: https://sagepub.com
Peer Reviewed: Y
Page Count: 14
Publication Date: 2024
Document Type: Journal Articles
Reports - Research
Descriptors: Participation, Individual Differences, Financial Exigency, Cognitive Processes, Psychological Patterns, Advantaged, Disadvantaged, Economic Factors, Executive Function
DOI: 10.1177/21582440241253740
ISSN: 2158-2440
Abstract: Previous studies have confirmed that money scarcity can impede individuals' cognitive control; however, it remains unclear how this effect occurs. This study created a virtual shopping game that can vividly simulate individuals' shopping-related thought processes in daily life to systematically investigate how money scarcity influences cognitive control. Participants were randomly assigned to either a money scarcity group or a money rich group and were asked to perform a virtual shopping game, an emotion test, and a cognitive control task. In the first two experiments, the participants were asked to perform a space compatibility task (Experiment 1) or a face task (Experiment 2) after completing the virtual shopping task, in which they indicated whether they would purchase the probe commodity. The results showed that (1) the response times of the money scarcity group in both the space compatibility task and the face task were markedly lower than those of the money rich group, and (2) the cognitive flexibility and interference suppression of the money rich group were greater than those of the money scarcity group; however, there was no obvious difference in response inhibition. Experiment 3 embedded the space compatibility task within the virtual shopping task. The response times of the money scarcity group were still markedly slower than those of the money rich group. Thus, money scarcity impedes individuals' cognitive control, primarily by weakening their cognitive flexibility and interference suppression.
Abstractor: As Provided
Entry Date: 2024
Accession Number: EJ1433927
Database: ERIC
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  Data: How Money Scarcity Influences Individuals' Cognitive Control
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  Data: <searchLink fieldCode="AR" term="%22Qiangqiang+Wang%22">Qiangqiang Wang</searchLink> (ORCID <externalLink term="https://orcid.org/0000-0003-4325-9701">0000-0003-4325-9701</externalLink>)<br /><searchLink fieldCode="AR" term="%22Shengmin+Liu%22">Shengmin Liu</searchLink><br /><searchLink fieldCode="AR" term="%22Feng+Wang%22">Feng Wang</searchLink><br /><searchLink fieldCode="AR" term="%22Wendian+Shi%22">Wendian Shi</searchLink> (ORCID <externalLink term="https://orcid.org/0000-0003-3605-0782">0000-0003-3605-0782</externalLink>)
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  Data: <searchLink fieldCode="DE" term="%22Participation%22">Participation</searchLink><br /><searchLink fieldCode="DE" term="%22Individual+Differences%22">Individual Differences</searchLink><br /><searchLink fieldCode="DE" term="%22Financial+Exigency%22">Financial Exigency</searchLink><br /><searchLink fieldCode="DE" term="%22Cognitive+Processes%22">Cognitive Processes</searchLink><br /><searchLink fieldCode="DE" term="%22Psychological+Patterns%22">Psychological Patterns</searchLink><br /><searchLink fieldCode="DE" term="%22Advantaged%22">Advantaged</searchLink><br /><searchLink fieldCode="DE" term="%22Disadvantaged%22">Disadvantaged</searchLink><br /><searchLink fieldCode="DE" term="%22Economic+Factors%22">Economic Factors</searchLink><br /><searchLink fieldCode="DE" term="%22Executive+Function%22">Executive Function</searchLink>
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  Data: 10.1177/21582440241253740
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  Data: Previous studies have confirmed that money scarcity can impede individuals' cognitive control; however, it remains unclear how this effect occurs. This study created a virtual shopping game that can vividly simulate individuals' shopping-related thought processes in daily life to systematically investigate how money scarcity influences cognitive control. Participants were randomly assigned to either a money scarcity group or a money rich group and were asked to perform a virtual shopping game, an emotion test, and a cognitive control task. In the first two experiments, the participants were asked to perform a space compatibility task (Experiment 1) or a face task (Experiment 2) after completing the virtual shopping task, in which they indicated whether they would purchase the probe commodity. The results showed that (1) the response times of the money scarcity group in both the space compatibility task and the face task were markedly lower than those of the money rich group, and (2) the cognitive flexibility and interference suppression of the money rich group were greater than those of the money scarcity group; however, there was no obvious difference in response inhibition. Experiment 3 embedded the space compatibility task within the virtual shopping task. The response times of the money scarcity group were still markedly slower than those of the money rich group. Thus, money scarcity impedes individuals' cognitive control, primarily by weakening their cognitive flexibility and interference suppression.
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      – SubjectFull: Individual Differences
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      – SubjectFull: Financial Exigency
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      – SubjectFull: Cognitive Processes
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      – SubjectFull: Psychological Patterns
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      – SubjectFull: Advantaged
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      – TitleFull: How Money Scarcity Influences Individuals' Cognitive Control
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