Groove Track | Tale of Two Markets: Do We Help People Only For Money Or Candy?

<p>Would you help change a stranger’s tire? How about if they offered you $20? Or, what if instead of money, they offered you some candy? </p> <p>We often think these types of exchanges are financial in nature - but this study explored how there is actually a different type of exchange going on here - a social exchange. When we help a friend move some furniture, invite friends over for dinner, help a stranger out who is in need - these are social exchanges in a social market, one that is separate from the financial market. And what’s even more interesting is that if you bring money into the social exchange, it falls apart.</p> <p><a href='https://behavioralgrooves.com/episode/james-heyman/'>James Heyman</a> and Dan Ariely explored this phenomena in their landmark study called, “<a href='https://journals.sagepub.com/doi/10.1111/j.0956-7976.2004.00757.x'>Effort for Payment: A Tale of Two Markets</a>” and is the basis for Kurt and Tim taking a deep look in this Groove Track. </p> <p>Listen to find out the backstory to the study and the implications from the findings. You can also watch a special video recording of this Groove Track with Kurt and Tim on the <a href='https://www.youtube.com/watch?v=jkmH8St_nsA&ab_channel=BehavioralGrooves'>Behavioral Grooves YouTube</a> Channel.</p> <p> </p> Links <p>Heyman, J., & Ariely, D. (2004). Effort for Payment: A Tale of Two Markets. Psychological Science: <a href='https://doi.org/10.1111/j.0956-7976.2004.00757.x'>https://doi.org/10.1111/j.0956-7976.2004.00757.x</a> </p> <p>Behavioral Grooves on YouTube: <a href='https://www.youtube.com/watch?v=jkmH8St_nsA&ab_channel=BehavioralGrooves'>https://www.youtube.com/watch?v=jkmH8St_nsA&ab_channel=BehavioralGrooves</a> </p>