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Financial scarcity and cognitive functioning: a meta-analysis

dc.contributor.authorde Almeida, Filipa
dc.contributor.authorScott, Ian J
dc.contributor.authorCassol Soro, Jerónimo
dc.contributor.authorFernandes, Daniel
dc.contributor.authorAmaral, André
dc.contributor.authorCatarino, Mafalda
dc.contributor.authorArêde, André
dc.contributor.authorFerreira, Mário B.
dc.date.accessioned2024-03-30T19:22:13Z
dc.date.available2024-03-30T19:22:13Z
dc.date.issued2024-03-30
dc.date.updated2024-02-01T13:17:17Z
dc.description.abstractWhereas several studies find that financial scarcity has a detrimental impact on cognitive functioning, some studies find no relationship and others even report beneficial effects. To shed light on this issue we conducted a meta-analysis on the relationship between financial scarcity and cognitive functioning. We went beyond testing the direct relationship between these two concepts and looked at potential moderators, namely education, the moment of scarcity, the severity of scarcity, the type of tasks used to assess cognitive functioning, and the type of study. Our findings suggest that scarcity does have a detrimental effect on cognitive functioning. Across 256 effect sizes from 29 datasets involving 111,852 respondents, we found a detrimental total effect of scarcity on cognitive performance of Hedge’s g = -0.43. We then estimated a meta-regression model of the drivers of the effect of scarcity on cognition. Education strongly explained this relationship, reducing the effect size by 60% (partial effect of scarcity on cognitive performance is Hedge’s g = -0.15, when accounting for education), to a small effect size. The moment and the severity of scarcity also contribute to this relationship, by moderating the effect, such that lifetime and adulthood scarcity have a larger effect than childhood scarcity, and more extreme levels of scarcity lead to higher cognitive dysfunction. The type of task used to assess cognitive functioning did not moderate the effect. And when controlling for education, higher effect sizes were found for non-correlational designs. We discuss these findings and their implications in light of existing research and theories.pt_PT
dc.description.versioninfo:eu-repo/semantics/acceptedVersionpt_PT
dc.identifier.citationde Almeida, F., Scott, I.J., Soro, J.C., Fernandes, D., Amaral, A.R., Catarino, M.L., Arêde, A., Ferreira, M.B. (2024). Financial scarcity and cognitive performance: a meta-analysis. Journal of Economic Psychology, 101. https://doi.org/10.1016/j.joep.2024.102702pt_PT
dc.identifier.doi10.1016/j.joep.2024.102702pt_PT
dc.identifier.issn0167-4870
dc.identifier.slugcv-prod-3553907
dc.identifier.urihttp://hdl.handle.net/10451/63850
dc.language.isoengpt_PT
dc.peerreviewedyespt_PT
dc.publisherElsevierpt_PT
dc.relationFighting over-indebtedness: Self-regulation and consumer environment
dc.subjectFinancial scarcitypt_PT
dc.subjectPovertypt_PT
dc.subjectCognitive functioningpt_PT
dc.subjectProcedural processespt_PT
dc.subjectWorking memorypt_PT
dc.titleFinancial scarcity and cognitive functioning: a meta-analysispt_PT
dc.typejournal article
dspace.entity.typePublication
oaire.awardTitleFighting over-indebtedness: Self-regulation and consumer environment
oaire.awardURIinfo:eu-repo/grantAgreement/FCT/Projetos de Investigação Científica e Desenvolvimento Tecnológico - 2014/PTDC%2FMHC-PAP%2F1556%2F2014/PT
oaire.citation.titleJournal of Economic Psychologypt_PT
oaire.citation.volume101pt_PT
oaire.fundingStreamProjetos de Investigação Científica e Desenvolvimento Tecnológico - 2014
person.familyNameScott
person.familyNameFerreira
person.givenNameIan James
person.givenNameMário
person.identifier.ciencia-idA817-FEBE-03B1
person.identifier.ciencia-id4516-EB6F-6B91
person.identifier.orcid0000-0001-9699-4473
person.identifier.orcid0000-0001-8962-7157
person.identifier.scopus-author-id57210218184
person.identifier.scopus-author-id14625840600
project.funder.identifierhttp://doi.org/10.13039/501100001871
project.funder.nameFundação para a Ciência e a Tecnologia
rcaap.cv.cienciaid4516-EB6F-6B91 | Mário Boto Ferreira
rcaap.rightsopenAccesspt_PT
rcaap.typearticlept_PT
relation.isAuthorOfPublication9227eeee-e1fb-494b-8754-146d8311b6ff
relation.isAuthorOfPublicationdfa3600e-c757-446d-b436-d3dd83cc93d3
relation.isAuthorOfPublication.latestForDiscovery9227eeee-e1fb-494b-8754-146d8311b6ff
relation.isProjectOfPublication50ff6dc7-f426-415a-9134-024989263ea6
relation.isProjectOfPublication.latestForDiscovery50ff6dc7-f426-415a-9134-024989263ea6

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