Effects of Material Possessions

• Can be used as status or symbol

• Example: Gadgets, cars, houses, bags, shoes, make-up, clothes
• Can make people more motivated to work harder to achieve them
• However, lack or loss can be disruptive to the mental health of some people

Materialism
• The negative effect of the strong desire for material possessions
• The importance people give on material possessions.
• Some aspects of materialism were related to compulsive shopping tendencies
(O’Guinn and Faber, 1989)

Compulsive Buying Disorder (CBD)

• The psychological dysfunction or impairment in functioning caused by strong desire
of material possessions.
• Characterized by an obsession with shopping and buying behaviors that causes
adverse consequences such as large debts.

Economic Self
• Economic activities we see around us are results of selfinterested behavior.
• What do you need? What do you want?

Needs vs Wants