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The psychology of collecting is an area of study that seeks to understand the motivating factors explaining why people devote time, money, and energy making and maintaining collections. There exist a variety of theories for why collecting behavior occurs, including consumerism, materialism, neurobiology and psychoanalytic theory.
Bernard Arnault, CEO of luxury conglomerate LVMH, once said: “As long as I’m not the richest man in the world, I won’t really be happy.” Luckily for Arnault, with a net worth of $200 ...
“If you can’t make ends meet without relying on a credit card, you may be drowning in debt thanks to high interest fees,” said Woroch. “Making more money would alleviate the stress of this.”
The overjustification effect occurs when an expected external incentive such as money or prizes decreases a person's intrinsic motivation to perform a task. Overjustification is an explanation for the phenomenon known as motivational "crowding out". The overall effect of offering a reward for a previously unrewarded activity is a shift to ...
Quiet millionaires make it their business to learn the dangers of debt and the virtues of compound interest, as well as how markets work and why hyped investments don’t. They’re in it for the ...
In economics, the profit motive is the motivation of firms that operate so as to maximize their profits.Mainstream microeconomic theory posits that the ultimate goal of a business is "to make money" - not in the sense of increasing the firm's stock of means of payment (which is usually kept to a necessary minimum because means of payment incur costs, i.e. interest or foregone yields), but in ...
In video games, player motivation is what drives people to play a game and engage with its contents. Player motivation often revolves around completing certain objectives, like solving a puzzle, beating an enemy, or exploring the game world. It concerns both smaller objectives within a part of the game as well as finishing the game as a whole ...
When it comes to money, it always helps to take a step back, acknowledge your emotions and weigh the risks and rewards. Hear an expert's take on 8 common mindsets that could be holding you back ...