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      Misery Is Not Miserly : Sad and Self-Focused Individuals Spend More

      1 , 2 , 3 , 4
      Psychological Science
      Wiley

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          Abstract

          Misery is not miserly: Sadness increases the amount of money that decision makers give up to acquire a commodity. The present research investigated when and why the misery-is-not-miserly effect occurs. Drawing on William James's concept of the material self, we tested a model specifying relationships among sadness, self-focus, and the amount of money that decision makers spend. Consistent with our Jamesian hypothesis, results demonstrated that the misery-is-not-miserly effect occurs only when self-focus is high. That is, self-focus moderates the effect of sadness on spending. Moreover, mediational analyses revealed that, at sufficiently high levels, self-focus mediates (explains) the relationship between sadness and spending. Because the study used real commodities and real money, the results hold implications for everyday decisions, as well as implications for the development of theory. For example, economic theories of spending may benefit from incorporating psychological theories -- specifically, theories of emotion and the self -- into their models.

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          The moderator-mediator variable distinction in social psychological research: conceptual, strategic, and statistical considerations.

          In this article, we attempt to distinguish between the properties of moderator and mediator variables at a number of levels. First, we seek to make theorists and researchers aware of the importance of not using the terms moderator and mediator interchangeably by carefully elaborating, both conceptually and strategically, the many ways in which moderators and mediators differ. We then go beyond this largely pedagogical function and delineate the conceptual and strategic implications of making use of such distinctions with regard to a wide range of phenomena, including control and stress, attitudes, and personality traits. We also provide a specific compendium of analytic procedures appropriate for making the most effective use of the moderator and mediator distinction, both separately and in terms of a broader causal system that includes both moderators and mediators.
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            Process Analysis: Estimating Mediation in Treatment Evaluations

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              Measuring utility by a single-response sequential method.

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                Author and article information

                Journal
                Psychological Science
                Psychol Sci
                Wiley
                0956-7976
                1467-9280
                June 2008
                June 2008
                June 2008
                June 2008
                : 19
                : 6
                : 525-530
                Affiliations
                [1 ]Carnegie Mellon University
                [2 ]Harvard University
                [3 ]Stanford University, and
                [4 ]University of Pittsburgh
                Article
                10.1111/j.1467-9280.2008.02118.x
                4142804
                18578840
                2b01aeec-a354-4512-a17d-b940e05c5f90
                © 2008

                http://journals.sagepub.com/page/policies/text-and-data-mining-license

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