BERTI, ANNA E., and BOMBI, ANNA S. The Development of the Concept of Money and Its Value: A Longitudinal Study. CHILD DEVELOPMENT, 1981, 52, 1179-1182. This article presents the results of a longitudinal study of 80 subjects between the ages of 3 and 8 years old to determine their conceptions of money and its value. The research was conducted within the framework of Piagetian theory using the critical method. A test was given and subsequently repeated after an interval of 12 months. The results demonstrate that the development of the notions under investigation proceeds in 6 definable stages.
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Berti et al. (1981) studied this question.