Possession Satisfaction Index: PSI (Scott and Lundstrom 1990)

Possession satisfaction index (PSI) is based on the idea of possession satisfaction as derived from materialism and attitude toward money.

Components:

There are 20 components in a PSI that measure five different aspects. These components have been outlined as under:-

Money makes life a lot easier.
I would rather own property than rent.
People with a lot of charge cards are important.
Wealthy people are respected.
Business has commercialized many meaningful holidays, such as Christmas.
Happiness is more important than money.*
When I shop, I usually make a purchase.
Money isn't everything.*
The more I have, the better I feel.
Given a choice between a well known brand and a store brand, I would take the store brand.
It isn't important to own a nice car.*
It is very important to me how people perceive me.
I would take a job for less money if it were more self satisfying.*
People enjoy showing others their new possessions.
People rate other people by the value of their possessions.
Being a success means making a lot of money.
It is really true that money can buy happiness.
Most of the people I look up to are wealthy.
The more I have, the more I want.
In general, wealthier people are happier than poor people.

Description

The PSI is composed of 20 Likert-type statements scored on 5-point strongly disagree-strongly agree formats. The scale is further composed of five factors assessing various aspects of possession satisfaction. Scores on the factors are derived by summing individual item scores within factors. An overall PSI score can be obtained by summing across all 20 items.

Validity:

Based on an initial factor analysis and a multitrait matrix analysis, it was found that the 9 items relating to money and the 11 items relating to material possessions were not distinct. Thus, all 20 items were combined to form one overall scale (PSI). A second factor analysis on the 20 items revealed five factors: (a) what possessions can do, (b) what possessions cannot do, (c) public image, (d) success equals possessions, and (e) more is better. Overall coefficient alpha for the scale was .80. (Alphas for the five factors were not reported.) No other estimates of validity were offered.

Source

Scott Cliff and William J. Lundstrom (1990) "Dimensions of Possession Satisfaction: a Preliminary Analysis." Journal of Satisfaction, Dissatisfaction and Complaining Behavior, 3, 100-4.

Administration, Analysis and Reporting

Statswork composed of a team of professional statisticians which can obliged the professional or student researcher in support to fill the survey instrument, gathering the information, organising the analysis and describing the results.