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Behavioral economics and monetary wisdom: A cross-level analysis of monetary aspiration, pay (dis)satisfaction, risk perception, and corruption in 32 nationsTang, Thomas Li-PingLi, ZhenÖzbek, Mehmet FerhatLim, Vivien K. G.Teo, Thompson S. H.Ansari, Mahfooz A.Sutarso, TotoGarber, IlyaChiu, Randy Ki-KwanCharles-Pauvers, BrigitteUrbain, CarolineLuna-Arocas, RobertoChen, JingqiuTang, NingyuTang, Theresa Li-NaArias-Galicia, Fernandode la Torre, Consuelo GarciaVlerick, PeterAkande, AdebowaleAl-Zubaidi, Abdulqawi SalimKazem, Ali MahdiBorg, Mark G.Cheng, Bor-ShiuanDu, LinzhiIbrahim, Abdul Hamid SafwatKim, KilsunMalovics, EvaMpoyi, Richard T.Nnedum, Obiajulu Anthony UgochukwuSardzoska, Elisaveta GjorgjiAllen, Michael W.Correia, RosarioJen, Chin-KangMoreira, Alice S.Osagie, Johnston E.Osman-Gani, AAhad M.Pholsward, RujaPolic, MarkoSkobic, PetarStembridge, Allen F.Canova, LuiginaManganelli, Anna MariaPitariu, Adrian H.Pereira, Francisco Jose Costacross-level analysismeasurement invariancecommon method variancedishonestycorruptionwrongdoingunethicalitygreedy desiresavaricious monetary aspirationlove of money attitudemonetary wisdominternationalglobalcross-culturalpay satisfaction-dissatisfactiongains-lossesjusticeequity perceptionsLevel 1prospect theoryrisk-takingrisk-aversionthe certainty effectthe possibility effectS Curvebehavioral economicstheory of planned behaviorTPBattitudesocial normscontrolintentiontransparencyhigh-low probability of riskCPIenvironmental contextcountry levelLevel 2Corruption involves greed, money, and risky decision-making. We explore the love of money, pay satisfaction, probability of risk, and dishonesty across cultures. Avaricious monetary aspiration breeds unethicality. Prospect theory frames decisions in the gains-losses domain and high-low probability. Pay dissatisfaction (in the losses domain) incites dishonesty in the name of justice at the individual level. The Corruption Perceptions Index, CPI, signals a high-low probability of getting caught for dishonesty at the country level. We theorize that decision-makers adopt avaricious love-of-money aspiration as a lens and frame dishonesty in the gains-losses domain (pay satisfaction-dissatisfaction, Level 1) and high-low probability (CPI, Level 2) to maximize expected utility and ultimate serenity. We challenge the myth: Pay satisfaction mitigates dishonesty across nations consistently. Based on 6500 managers in 32 countries, our cross-level three-dimensional visualization offers the following discoveries. Under high aspiration conditions, pay dissatisfaction excites the highest- (third-highest) avaricious justice-seeking dishonesty in high (medium) CPI nations, supporting the certainty effect. However, pay satisfaction provokes the second-highest avaricious opportunity-seizing dishonesty in low CPI entities, sustaining the possibility effect-maximizing expected utility. Under low aspiration conditions, high pay satisfaction consistently leads to low dishonesty, demonstrating risk aversion-achieving ultimate serenity. We expand prospect theory from a micro and individual-level theory to a cross-level theory of monetary wisdom across 32 nations. We enhance the S-shaped Curve to three 3-D corruption surfaces across three levels of the global economic pyramid, providing novel insights into behavioral economics, business ethics, the environment, and responsibility.WILEY2023-07Articlehttps://rdlopen.rawdatalibrary.net/r/gumushane/10702https://doi.org/10.1111/beer.125052694-6416enBUSINESS ETHICS THE ENVIRONMENT & RESPONSIBILITYinfo:eu-repo/semantics/openAccessinfo:eu-repo/semantics/articlehttps://gumushane-rdlopen.rawdatalibrary.net/tr/items/gumushane/10702