The Ex-Money Effect: When and Why People Feel Connected to Outcomes that Involve Money They Previously Had

• In Event: 4.2 Money Matters: New Insights on the Cognition and Management of Money

Short Abstract

We document the ex-money effect that people feel connected to outcomes that involve money they previously had (their “ex-money”), and suggest this counter-normative effect stems from people conceptualizing money as a non-fungible material good. We document its boundary condition and discuss using it as a low-friction, minimalistic nudge.

Authors

• Charis Li, University of Florida, USA

• Yanping Tu, University of Florida, USA