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      Is Materialism All That Bad? Effects on Satisfaction with Material Life, Life Satisfaction, and Economic Motivation

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      Author
      Joseph Sirgy, M.
      Gurel-Atay, E.
      Webb, D.
      Cicic, M.
      Husic-Mehmedovic, M.
      Ekici, A.
      Herrmann, A.
      Hegazy I.
      Lee, D.-J.
      Johar J.S.
      Date
      2013
      Source Title
      Social Indicators Research
      Print ISSN
      0303-8300
      Volume
      110
      Issue
      1
      Pages
      349 - 366
      Language
      English
      Type
      Article
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      Abstract
      The literature in economic psychology and quality-of-life studies alludes to a negative relationship between materialism and life satisfaction. In contrast, the macroeconomic literature implies a positive relationship between material consumption and economic growth. That is, materialism may be both good and bad. We develop a model that reconciles these two contrasting viewpoints by asserting that materialism may lead to life dissatisfaction when materialistic people evaluate their standard of living using fantasy-based expectations (e. g., ideal expectations), which increases the likelihood that they would evaluate their standard of living negatively. In turn, dissatisfaction with standard of living increases the likelihood that they would evaluate their life negatively. However, materialistic people who evaluate their standard of living using reality-based expectations (e. g., ability expectations) are likely to feel more economically motivated than their non-materialistic counterparts, and this economic motivation is likely to contribute significantly and positively to life satisfaction. Survey data were collected from seven major cities each in a different country (Australia, Bosnia/Herzegovina, Germany, Egypt, Korea, Turkey, and the USA) using a probability sample (cluster sampling method involving income stratification). The results provide support for the model. The economic public policy implications concerning how people evaluate their standard of living using ability-based expectations are discussed in the context of the ideals of meritocracy. © 2011 Springer Science+Business Media B.V.
      Keywords
      Economic motivation
      Evaluation of standard of living
      Life satisfaction
      Materialism
      Meritocracy
      Quality of life
      Satisfaction with material life
      economic growth
      economic policy
      living standard
      macroeconomics
      psychology
      quality of life
      socioeconomic indicator
      Permalink
      http://hdl.handle.net/11693/21157
      Published Version (Please cite this version)
      http://dx.doi.org/10.1007/s11205-011-9934-2
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