Social and Behavioral Sciences Commons^™

Behavioral Economics And Monetary Wisdom: A Cross-Level Analysis Of Monetary Aspiration, Pay (Dis)Satisfaction, Risk Perception, And Corruption In 32 Nations, Thomas Li-Ping Tang, Zhen Li, Mehmet Ferhat Özbek, Vivien K. G. Lim, Thompson S. H. Teo, Mahfooz A. Ansari, Toto Sutarso, Ilya Garber, Randy Ki-Kwan Chiu, Brigitte Charles-Pauvers, Caroline Urbain, Roberto Luna-Arocas, Jingqiu Chen, Ningyu Tang, Theresa Li-Na Tang, Fernando Arias-Galicia, Consuelo Garcia De La Torre, Peter Vlerick, Adebowale Akande, Abdulqawi Salim Al-Zubaidi, Ali Mahdi Kazem, Mark G. Borg, Bor-Shiuan Cheng, Linzhi Du, Abdul Hamid Safwat Ibrahim, Kilsun Kim, Eva Malovics, Richard T. Mpoyi, Obiajulu Anthony Ugochukwu Nnedum, Elisaveta Gjorgji Sardžoska, Michael W. Allen, Rosário Correia, Chin-Kang Jen, Alice S. Moreira, Johnston E. Osagie, Aahad M. Osman-Gani, Ruja Pholsward, Marko Polic, Petar Skobic, Allen F. Stembridge, Luigina Canova, Anna Maria Manganelli, Adrian H. Pitariu, Francisco José Costa Pereira

Faculty Publications

Corruption involves greed, money, and risky decision-making. We explore the love of money, pay satisfaction, probability of risk, and dishonesty across cultures. Avaricious monetary aspiration breeds unethicality. Prospect theory frames decisions in the gains-losses domain and high-low probability. Pay dissatisfaction (in the losses domain) incites dishonesty in the name of justice at the individual level. The Corruption Perceptions Index, CPI, signals a high-low probability of getting caught for dishonesty at the country level. We theorize that decision-makers adopt avaricious love-of-money aspiration as a lens and frame dishonesty in the gains-losses domain (pay satisfaction-dissatisfaction, Level 1) and high-low probability (CPI, Level …