Music psychologists are trying to understand the processes that support musical behaviours - including perception, comprehension, memory, attention, emotional effects, and performance.
Many decades of extensive research has investigated :
A very substantial body of experimental and observational work documents the effects that music has, and the way it's perceived - but there is no generally accepted theory that explains why music can instigate the profound psychological effects that it does.
Even the most basic effects, such as the general perception that minor chords tend to sound 'sad' whilst major chords don't, has no explanation.
Further reading (example music journals)
Note: Some animals have been shown to respond to music - notably parrots.
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