Research on how we spend money

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December 11, 2012 – We think money is a means to transactions, we buy with money simply according to its value. But indeed, it is not that simple. Prof Fabrizio Di Muro, of Winnipeg University, and Prof Theodore Noseworthy, of Guelph University in Ontario, conducted a study on how we actually spend banknotes. In the Journal of Consumer research is going to appear their study ‘Money Isn’t Everything, but It Helps If It Doesn’t Look Used: How the Physical Appearance of Money Influences Spending’.

The research showed that consumers tend to spend filthy banknotes quicker than new ones. According to the researchers this is connected with the feeling that many people before have touched the older banknotes, especially when they knew to be socially monitored. The scientists said: “The physical appearance of money can alter spending behaviour. Consumers tend to infer that worn bills are used and contaminated, whereas crisp bills give them a sense of pride in owning bills that can be spent around others.”

You can read an article about this study in The Telegraph.

The full study can be read here.