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There are Free Lunches: Behavioral Clues to Live Happy in the Economic World is a blog that intends to present updated and relevant information about the "hidden" and only recently uncovered dimensions of the economic science: the behavioral factors. With this blog we intend to promote in Europe and in the rest of the World, the top research articles and perspectives on behavioral economics, decision making, consumer behavior, and general behavioral science. We aim to be followed by journalists, academics, managers, civil servants, and everyone who wishes to improve their daily interaction with the economic world and consequently, their lives' happiness.

Thursday, 29 November 2012

O2 #1 The Money-Empathy Gap (via NYMAG)

New research suggests that more money makes people act less human. Or at least less humane.

In a windowless room on the University of California, Berkeley, campus, two undergrads are playing a Monopoly game that one of them has no chance of winning. A team of psychologists has rigged it so that skill, brains, savvy, and luck—those ingredients that ineffably combine to create success in games as in life—have been made immaterial. Here, the only thing that matters is money.  

One of the players, a brown-haired guy in a striped T-shirt, has been made “rich.” He got $2,000 from the Monopoly bank at the start of the game and receives $200 each time he passes Go. The second player, a chubby young man in glasses, is comparatively impoverished. He was given $1,000 at the start and collects $100 for passing Go. T-Shirt can roll two dice, but Glasses can only roll one, limiting how fast he can advance. The students play for fifteen minutes under the watchful eye of two video cameras, while down the hall in another windowless room, the researchers huddle around a computer screen, later recording in a giant spreadsheet the subjects’ every facial twitch and hand gesture.  

Read the rest of this extensive article about money & empathy here: MoneyEmpathyGap

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