Having Too Much Cash Clouds Your Fashion Sense

June 26, 2018

© Pavel Losevsky | Dreamstime

Despite having their pick of the world's top designers, many wealthy celebrities still manage to dress badly. According to new research, this could be because they have so much cash that they become overconfident and more are likely to make poor judgements. Money makes them so sure they're right, they stop bothering to take useful feedback from other people. That's the conclusion of a recent study about money and confidence and it appears too much money clouds your good judgement. Researchers asked participants to take part in visual tests using Gabor patches. These patches, which are blank or contain blurred patterns on them, are often used in experiments to test people's perception. Using a scale of 50 to 100 per cent they rated how confident they were about their decision. Participants were told they would win or lose money depending on how accurate they were. The money helped people make good decisions in some respects as they were better at discriminating between the right and wrong answer. However, it made people who were confident of their decision even more sure of themselves.  A possible explanation for this is that the prospect of a monetary reward may change an individual's physiological state and, by extension, a person’s confidence judgement.

SOURCE: Daily Mail

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