Experiencing costs and benefits of a loan transaction: The role of cost-benefit associations

Journal of Economic Psychology

Volumn 31, Issue 6, 2010, Pages 1047-1056

  Kamleitner, Bernadette ^a   Hoelzl, Erik ^b   Kirchler, Erich ^c  

^a QUEEN MARY UNIVERSITY OF LONDON   (United Kingdom)

^b UNIVERSITY OF COLOGNE   (Germany)

^c UNIVERSITY OF VIENNA   (Austria)

Author keywords

Cognitive associations; Consumer credit; Cost benefit association; Experiment; Field study; Loans

Indexed keywords

EID: 78449280350     PISSN: 01674870     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.joep.2010.09.005     Document Type: Article

References (36)

1. Anderson J.R. Retrieval of propositional information from long-term memory. Cognitive Psychology 1974, 6(4):451-474.
2. Anderson J.R., Bower G.H. Human associative memory 1973, Winston and Sons, Washington, DC.
3. Brinol P., Petty R.E. Happiness versus sadness as a determinant of thought confidence in persuasion: A self-validation analysis. Journal of Personality and Social Psychology 2007, 93(5):711-727.
4. Brinol P., Petty R.E., Tormala Z.L. The malleable meaning of subjective ease. Psychological Science 2006, 17(3):200-206.
5. Bucks B.K., Kennickell A.B., Moore K.B. Recent changes in US family finances: Evidence from the 2001 and 2004 survey of consumer finances. Federal Reserve Bulletin 2006.
6. Flavell J.H. Metacognition and cognitive monitoring: A new area of cognitive-developmental inquiry. American Psychologist 1979, 34(10):906-911.
7. Greenwald A.G., McGhee D.E., Schwartz J.L.K. Measuring individual differences in implicit cognition: The implicit association test. Journal of Personality and Social Psychology 1998, 74(6):1464-1480.
8. Guiltinan J. Consumer durables replacement decision-making: An overview and research agenda. Marketing Letters 2010, 21(2):163-174.
9. Heath C., Fennema M.G. Mental depreciation and marginal decision making. Organizational Behavior and Human Decision Processes 1996, 68(2):95-108.
10. Heath C., Soll J.B. Mental budgeting and consumer decisions. Journal of Consumer Research 1996, 23(1):40-52.
11. Hirst E.D., Joyce E.J., Schadewald M.S. Mental accounting and outcome contiguity in consumer-borrowing decisions. Organizational Behavior and Human Decision Processes 1994, 58(1):136-152.
12. Kahneman D., Tversky A. Choices, values and frames. American Psychologist 1984, 37(4):341-350.
13. Kamleitner B., Hoelzl E. Cost-benefit-associations and financial behavior. Applied Psychology: An International Review 2009, 58(3):435-452.
14. Kamleitner B., Kirchler E. Personal loan users' mental integration of payment and consumption. Marketing Letters 2006, 17(4):281-294.
15. Kivetz R. Advances in research on mental accounting and reason-based choice. Marketing Letters 1999, 10(3):249-266.
16. Kounios J., Smith R.W., Yang W., Bachman P., D'Esposito M. Cognitive association formation in human memory revealed by spatiotemporal brain imaging. Neuron 2001, 29(1):297-306.
17. Labroo A.A., Lambotte S., Zhang Y. The " Name-Ease" effect and its dual impact on importance judgments. Psychological Science 2009, 20(12):1516-1522.
18. Linville P.W., Fischer G.W. Preferences for separating or combining events. Journal of Personality and Social Psychology 1991, 60(1):5-23.
19. Morewedge C.K., Holtzman L., Epley N. Unfixed resources: Perceived costs, consumption, and the accessible account effect. Journal of Consumer Research 2007, 34(4):459-467.
20. Novemsky N., Dhar R., Schwarz N., Simonson I. Preference fluency in choice. Journal of Marketing Research 2007, 44(3):347-356.
21. Park J.H., Schaller M. Does attitude similarity serve as a heuristic cue for kinship? Evidence of an implicit cognitive association. Evolution and Human Behavior 2005, 26(2):158-170.
22. Prelec D., Loewenstein G. The red and the black: Mental accounting of savings and debt. Marketing Science 1998, 17(1):4-28.
23. Prelec D., Simester D. Always leave home without it: A further investigation of the credit-card effect on willingness to pay. Marketing Letters 2001, 12(1):5-12.
24. Radvansky G.A., Zacks R.T. Mental models and the fan effect. Journal of Experimental Psychology - Learning Memory and Cognition 1991, 17(5):940-953.
25. Schwarz N. Metacognitive experiences in consumer judgment and decision making. Journal of Consumer Psychology 2004, 14(4):332-348.
26. Schwarz N., Sanna L.J., Ian S., Yoon C. Metacognitive experiences and the intricacies of setting people straight: Implications for debiasing and public information campaigns. Advances in Experimental Social Psychology 2007, 39:127-161.
27. Shafir E., Thaler R.H. Invest now, drink later, spend never: On the mental accounting of delayed consumption. Journal of Economic Psychology 2006, 27(5):694-712.
28. Shampanier K., Mazar N., Ariely D. Zero as a special price: The true value of free products. Marketing Science 2007, 26(6):742-757.
29. Shefrin H.M., Thaler R.H. The behavioral life-cycle hypothesis. Economic Inquiry 1988, 26(4):609-643.
30. Siemens J.C. When consumption benefits precede costs: Towards an understanding of 'buy now, pay later' transactions. Journal of Behavioral Decision Making 2007, 20(5):521-531.
31. Soman D., Gourville J.T. Transaction decoupling: How price bundling affects the decision to consume. Journal of Marketing Research 2001, 38(1):30-44.
32. Thaler R.H. Mental accounting and consumer choice. Marketing Science 1985, 4(3):199-214.
33. Thaler R.H. Saving, fungibility, and mental accounts. Journal of Economic Perspectives 1990, 4(1):193-205.
34. Thaler R.H. Mental accounting matters. Journal of Behavioral Decision Making 1999, 12(3):183-206.
35. Watkins, J. P. (2009). Corporate profits and personal misery: Credit, gender, and the distribution of income, San Francisco, CA, January 03-05.
36. Winkielman P., Schwarz N., Fazendeiro T.A., Reber R. The hedonic marking of processing fluency: Implications for evaluative judgment. Affective processes in cognition and emotion 2002, 189-217. Lawrence Erlbaum, Mahwah, NJ. J. Musch, K.C. Klauer (Eds.).