Exposure to luxury can alter decision making: study
By Ros Krasny
BOSTON (Reuters Life!) - For the good of us all, step away from the Rolex.
The mere exposure to luxury goods can have a corrosive effect on decision-making that pushes individuals to put their interests over the interests of others, according to a Harvard Business School study.
Researchers Roy Y. J. Chua, of Harvard, and Xi Zou, an assistant professor at London Business School, examined the psychological consequences that luxury goods can have on people in their research paper, "The Devil Wears Prada? Effects of Exposure to Luxury Goods on Cognition and Decision Making."
They concluded that luxury seems intrinsically linked to self-interest.
The researchers studied students who were randomly assigned to either a "luxury goods" condition or a "non-luxury goods" condition, and viewed photographs of associated consumer products such as shoes and watches. The students were then asked to imagine various scenarios that might arise if they were CEO of a firm.
The students who viewed luxury goods were significantly more likely than the second group to endorse production of a new car that might pollute the environment, launch a new software with bugs, or market a video game that might induce violence, according to the study.
"Results ... suggest that when primed with luxury, people endorsed self-interested decisions that could potentially harm others," the researchers said in the study.
"Luxury-primed individuals tend to make decisions that are self-interested and arguably unethical." Continued...