Money often does strange things to us—kids included. Many parents have observed that their children may be changed by an allowance, for example, or even just an intense game of Monopoly. And now science bears this out.
According to new research from the University of Minnesota and the University of Illinois at Chicago, even kids who lack concrete knowledge about what money is exhibit behavioral changes just from encountering it.
“Money is a double-edged sword. It produces good outcomes in terms of concentration and effort, but bad outcomes when it comes to helping, taking, and donating,” said study co-author Kathleen Vohs, a University of Minnesota marketing professor who specializes in the psychology of money. The study is not yet published; it will be featured in the journal Psychological Science, according to the University of Minnesota’s summary of the analysis.
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