Jove
Visualize
Contact Us
JoVE
x logofacebook logolinkedin logoyoutube logo
ABOUT JoVE
OverviewLeadershipBlogJoVE Help Center
AUTHORS
Publishing ProcessEditorial BoardScope & PoliciesPeer ReviewFAQSubmit
LIBRARIANS
TestimonialsSubscriptionsAccessResourcesLibrary Advisory BoardFAQ
RESEARCH
JoVE JournalMethods CollectionsJoVE Encyclopedia of ExperimentsArchive
EDUCATION
JoVE CoreJoVE BusinessJoVE Science EducationJoVE Lab ManualFaculty Resource CenterFaculty Site
Terms & Conditions of Use
Privacy Policy
Policies

Related Concept Videos

Fundamental Attribution Error01:14

Fundamental Attribution Error

13.6K
According to some social psychologists, people tend to overemphasize internal factors as explanations—or attributions—for the behavior of other people. They tend to assume that the behavior of another person is a trait of that person, and to underestimate the power of the situation on the behavior of others. They tend to fail to recognize when the behavior of another is due to situational variables, and thus to the person’s state. This erroneous assumption is...
13.6K
Theory of Attribution II: Kelley's Covariation Theory01:29

Theory of Attribution II: Kelley's Covariation Theory

415
Attribution theory plays a crucial role in social psychology, helping to explain how individuals interpret the causes of behavior. One prominent model within this field is Harold Kelley's covariation theory, which provides a systematic approach to determining whether internal traits or external circumstances drive a person's actions. The model posits that individuals rely on three key types of information—consensus, consistency, and distinctiveness—to make these judgments.Consensus:...
415
Self-Schemas02:16

Self-Schemas

35.3K
In general, a schema is a mental construct consisting of a cluster or collection of related concepts (Bartlett, 1932). There are many different types of schemata, and they all have one thing in common: schemata are a method of organizing information that allows the brain to work more efficiently. When a schema is activated, the brain makes immediate assumptions about the person or object being observed.
35.3K
Self-Discrepancy Theory02:45

Self-Discrepancy Theory

18.8K
One influential perspective on what motivates people's behavior is detailed in Tory Higgin's self-discrepancy theory (Higgins, 1987). He proposed that people hold disagreeing internal representations of themselves that lead to different emotional states.  
18.8K
Self-Presentation: Self-Monitoring and Self-Handicapping02:05

Self-Presentation: Self-Monitoring and Self-Handicapping

43.4K
People can go to great lengths to protect their self-image and present themselves in ways that they want others to see them. Sociologist Erving Goffman presented the idea that a person is like an actor on a stage. Calling his theory dramaturgy, Goffman believed that we use “impression management” to present ourselves to others as we hope to be perceived. Each situation is a new scene, and individuals perform different roles depending on who is present (Goffman, 1959). Think about...
43.4K
Self-Serving Bias01:29

Self-Serving Bias

157
Self-serving bias is a cognitive phenomenon in which individuals attribute positive outcomes to internal factors such as their abilities, intelligence, or effort while attributing negative outcomes to external circumstances. This cognitive distortion helps maintain self-esteem but can also impede objective self-assessment.Theoretical Explanations of Self-Serving BiasTwo primary theories explain the self-serving bias: the cognitive explanation and the motivational explanation.The cognitive...
157

You might also read

Related Articles

Articles linked to this work by shared authors, journal, and citation graph.

Sort by
Same author

Taxpayers do not always follow the crowd: The effects of regulatory focus and social norm on tax compliance.

Acta psychologica·2025
Same author

Grandiose narcissism, unfounded beliefs, and behavioral reactions during the COVID-19 pandemic.

Scientific reports·2024
Same author

The economic crisis during the COVID-19 pandemic has a negative effect on tax compliance: Results from a scenario study in Austria.

Journal Of Economic Psychology·2022
Same author

The fear of COVID-19 scale: Its structure and measurement invariance across 48 countries.

Psychological assessment·2022
Same author

Women Quotas vs. Men Quotas in Academia: Students Perceive Favoring Women as Less Fair Than Favoring Men.

Frontiers in psychology·2020
Same author

Research practices and statistical reporting quality in 250 economic psychology master's theses: a meta-research investigation.

Royal Society open science·2020

Related Experiment Video

Updated: Dec 31, 2025

The Joint Effect of Social Comparison and Social Distance on Evaluation of Intertemporal Choice Outcomes in Event-related Potential Studies
08:24

The Joint Effect of Social Comparison and Social Distance on Evaluation of Intertemporal Choice Outcomes in Event-related Potential Studies

Published on: August 25, 2023

1.1K

Individual Differences in Mental Accounting.

Stephan Muehlbacher1, Erich Kirchler1

  • 1Faculty of Psychology, University of Vienna, Vienna, Austria.

Frontiers in Psychology
|January 11, 2020
PubMed
Summary
This summary is machine-generated.

Individual differences in mental accounting, or how people manage money mentally, were explored. Findings show these differences relate to personality, financial literacy, and demographics, impacting financial decision-making.

Keywords:
conscientiousnessimpulsivityincome sourcemental accountingtheater-ticket problem

More Related Videos

Errors as a Means of Reducing Impulsive Food Choice
07:07

Errors as a Means of Reducing Impulsive Food Choice

Published on: June 5, 2016

9.0K
Measuring Delay Discounting in Humans Using an Adjusting Amount Task
07:47

Measuring Delay Discounting in Humans Using an Adjusting Amount Task

Published on: January 9, 2016

15.9K

Related Experiment Videos

Last Updated: Dec 31, 2025

The Joint Effect of Social Comparison and Social Distance on Evaluation of Intertemporal Choice Outcomes in Event-related Potential Studies
08:24

The Joint Effect of Social Comparison and Social Distance on Evaluation of Intertemporal Choice Outcomes in Event-related Potential Studies

Published on: August 25, 2023

1.1K
Errors as a Means of Reducing Impulsive Food Choice
07:07

Errors as a Means of Reducing Impulsive Food Choice

Published on: June 5, 2016

9.0K
Measuring Delay Discounting in Humans Using an Adjusting Amount Task
07:47

Measuring Delay Discounting in Humans Using an Adjusting Amount Task

Published on: January 9, 2016

15.9K

Area of Science:

  • Behavioral Economics
  • Cognitive Psychology
  • Decision Science

Background:

  • Individual differences in mental accounting are understudied.
  • Limited empirical evidence links mental accounting to personality traits.

Purpose of the Study:

  • To develop and validate a scale measuring individual differences in mental accounting.
  • To investigate the relationship between mental accounting tendencies and personality, demographics, and financial literacy.

Main Methods:

  • Three studies were conducted using a Likert-type scale to assess mental accounting practices.
  • Studies involved scenarios of prior losses (theater-ticket problem) and prior gains (income source effects).
  • An explorative survey examined correlations with personality, education, impulsivity, and financial literacy.

Main Results:

  • The developed mental accounting scale demonstrated acceptable reliability and a single-factor structure.
  • Individual differences in mental accounting moderated experimental effects in studies on gains and losses.
  • Mental accounting engagement positively correlated with being female, conscientiousness, and financial literacy; negatively with education and impulsivity.

Conclusions:

  • Individual differences in mental accounting are identifiable and measurable.
  • These differences are linked to core assumptions of mental accounting theory.
  • Financial service providers should consider individual differences in designing money management tools and training.