The Importance of Money Scale (IMS): A new instrument to measure the importance of material well-being

A fundamental assumption in the social sciences is that humans are motivated by concern for material well-being. However, despite its central importance many behavioral areas (e.g. consumption, labor market decisions, participation education), there no satisfying survey instrument to measure of In this paper, we suggest a short 8-item scale money. study 1, test new sample 510 students with respect reliability, construct validity, and external validity using multitrait-multimethod approach first suggested Campbell Fiske (1959). 2, random population (N = 2914) validity. Our results money (IMS) has high reliability outperforms comparable measures predictive