How Money Scarcity Influences Individuals’ Cognitive Control

Qiangqiang Wang, Shengmin Liu, Feng Wang and Wendian Shi

SAGE Open, 2024, vol. 14, issue 2, 21582440241253740

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.

Keywords: money scarcity; cognitive control; cognitive flexibility; response inhibition; interference suppression (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:sae:sagope:v:14:y:2024:i:2:p:21582440241253740

DOI: 10.1177/21582440241253740

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