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Greed: What Is It Good for?

Karlijn Hoyer1, Marcel Zeelenberg1,2, Seger M Breugelmans1

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This summary is machine-generated.

Greed benefits economic outcomes but harms psychological well-being. This study reveals greed

Keywords:
economic outcomesevolutionary outcomesgreedself-interestwell-being

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Area of Science:

  • Psychology
  • Behavioral Economics
  • Evolutionary Psychology

Background:

  • Greed is a common human trait, yet its functional benefits and drawbacks remain debated.
  • Understanding greed's impact is crucial for individual and societal well-being.

Purpose of the Study:

  • To investigate the economic, evolutionary, and psychological outcomes associated with greed.
  • To differentiate the effects of greed from general self-interest.

Main Methods:

  • Survey administered to a representative sample of the Dutch population (N=2,367).
  • Analysis of personal/household income, sexual partners, offspring, relationship length, and life satisfaction.
  • Comparative analysis between greed and self-interest.

Main Results:

  • Greedy individuals reported higher economic outcomes.
  • Evolutionary outcomes for greedy individuals were mixed (more partners, but not necessarily more offspring or longer relationships).
  • Greedy individuals reported lower psychological outcomes (life satisfaction).

Conclusions:

  • Greed has a complex, multifaceted impact, enhancing economic success while diminishing psychological well-being.
  • Greed and self-interest show distinct patterns in economic and evolutionary outcomes, but similar psychological effects.
  • Further research is needed to fully elucidate the role and consequences of greed.