Deceiving Our Minds: A Qualitative Exploration of the Money Illusion in Post-redenomination Ghana
Document Type
Article
Publication Date
12-1-2010
Abstract
The current study is a qualitative exploration of the presence of the money illusion in the lived experiences of Ghanaian adult consumers after a currency redenomination. The results indicated that a switch from the old currency to the new currency had implications for self-worth determination, trivialization of price increases, changes in spending behaviour, and changes in the extent of benevolence. All these changes were related to the tendency to make judgments based on the nominal value of an amount of money, rather than its real value; the judgment bias is known as the money illusion. © 2010 Springer Science+Business Media, LLC.
Recommended Citation
Dzokoto, Vivian Afi Abui; Mensah, Edwin Clifford; Twum-Asante, Maxwell; and Opare-Henaku, Annabella, "Deceiving Our Minds: A Qualitative Exploration of the Money Illusion in Post-redenomination Ghana" (2010). College of Humanities and Social Sciences. 339.
https://digitalcommons.uncfsu.edu/college_humanities_social_sciences/339