Greed is an important motive: it is seen as both productive (a source of ambition; the motor of the economy) and destructive (undermining social relationships; the cause of the late 2000s financial crisis). However, relatively little is known about what greed is and does. This article reports on 5 studies that develop and test the 7-item Dispositional Greed Scale (DGS). Study 1 (including 4 separate samples from 2 different countries, total N = 6092) provides evidence for the construct and discriminant validity of the DGS in terms of positive correlations with maximization, self-interest, envy, materialism, and impulsiveness, and negative correlations with self-control and life satisfaction. Study 2 (N = 290) presents further evidence for discriminant validity, finding that the DGS predicts greedy behavioral tendencies over and above materialism. Furthermore, the DGS predicts economic behavior: greedy people allocate more money to themselves in dictator games (Study 3, N = 300) and ultimatum games (Study 4, N = 603), and take more in a resource dilemma (Study 5, N = 305). These findings shed light on what greed is and does, how people differ in greed, and how greed can be measured. In addition, they show the importance of greed in economic behavior and provide directions for future studies.

Although greed is both hailed as the motor of economic growth and blamed as the cause of economic crises, very little is known about its psychological underpinnings. Five studies explored lay conceptualizations of greed among U.S. and Dutch participants using a prototype analysis. Study 1 identified features related to greed. Study 2 determined the importance of these features; the most important features were classified as central (e.g., self-interested, never satisfied), whereas less important features were classified as peripheral (e.g., ambition, addiction). Subsequently, we found that, compared to peripheral features, participants recalled central features better (Study 3), faster (Study 4), and these central features were more present in real-life episodes of greed (Study 5). These findings provide a better understanding of the elements that make up the experience of greed and provide insights into how greed can be manipulated and measured in future research.

Greed is often seen as immoral. Although the assumption that greed elicits unethical behavior is widespread, there is surprisingly little empirical research testing this relationship. We present a series of three studies investigating the association between greed and unethical behavior, using different methodologies and samples from the USA, The Netherlands, and Belgium. Study 1 (3 samples, total N = 3413) reveals that more greedy individuals find a variety of transgressions more acceptable and justifiable as well as indicate that they have more often engaged in a variety of transgressions compared to less greedy individuals. Study 2 (N = 172) replicated these findings in an incentivized behavioral laboratory study where participants decided to accept a bribe or not. Greedy people were more likely to take a bribe and also preferred higher bribes. Study 3 (N = 302) examined a potential process relating greed to unethical behavior. Greedy people were more likely to transgress because they found the positive outcomes associated with the transgression more desirable, and therefore displayed lower self-control. Implications for general theories of greed and morality are discussed. "For the love of money is the root of all evil."-Timothy 6:10 "Fraud is the daughter of greed."-Jonathan Gash

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