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Mere-Possession Effects without Possession in Consumer Choice

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  • Sen, Sankar
  • Johnson, Eric J

Abstract

In this article we examine whether and why preferences for a good produced by its mere and arbitrary possession (i.e., a mere-possession effect) occurs even in the absence of actual possession. In two experiments, we demonstrate that merely possessing a coupon for a product, as opposed to the actual product, can increase consumers' preference for that option over its competitors' in real choices from meaningfully comparable choice sets. In addition, a characterization of the cognitive processes underlying this phenomenon, and its variation with individual perceptions of task meaningfulness, provides support for a loss-aversion account of consumers' possession-induced preferences for goods they do not actually possess. Copyright 1997 by the University of Chicago.

Suggested Citation

  • Sen, Sankar & Johnson, Eric J, 1997. "Mere-Possession Effects without Possession in Consumer Choice," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 24(1), pages 105-117, June.
    • Handle: RePEc:oup:jconrs:v:24:y:1997:i:1:p:105-17
    DOI: 10.1086/209497
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    2. Lu, Jingyi & Xie, Xiaofei, 2014. "To change or not to change: A matter of decision maker’s role," Organizational Behavior and Human Decision Processes, Elsevier, vol. 124(1), pages 47-55.
    3. Carstensen, Laura L. & Reynolds, Megan E., 2023. "Age differences in preferences through the lens of socioemotional selectivity theory," The Journal of the Economics of Ageing, Elsevier, vol. 24(C).
    4. repec:cup:judgdm:v:3:y:2008:i:6:p:476-482 is not listed on IDEAS
    5. Sam K. Hui & Peter S. Fader & Eric T. Bradlow, 2009. "Path Data in Marketing: An Integrative Framework and Prospectus for Model Building," Marketing Science, INFORMS, vol. 28(2), pages 320-335, 03-04.
    6. David Gal, 2006. "A psychological law of inertia and the illusion of loss aversion," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 1, pages 23-32, July.
    7. repec:cup:judgdm:v:8:y:2013:i:2:p:116-135 is not listed on IDEAS
    8. Ya-Ching Lee, 2011. "Reciprocal Effects of Media Extensions," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 1(1), pages 54-72, June.
    9. John R. Doyle, 2013. "Survey of time preference, delay discounting models," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 8(2), pages 116-135, March.
    10. Yin Wu & Jie Hu & Eric van Dijk & Marijke C Leliveld & Xiaolin Zhou, 2012. "Brain Activity in Fairness Consideration during Asset Distribution: Does the Initial Ownership Play a Role?," PLOS ONE, Public Library of Science, vol. 7(6), pages 1-9, June.
    11. Zhang, Sookie Xue & Bayer, Ralph-Christopher, 2018. "Does suspending an English Auction increase revenues?," Economics Letters, Elsevier, vol. 162(C), pages 98-100.
    12. James R. Wolf & Hal R. Arkes & Waleed A. Muhanna, 2008. "The power of touch: An examination of the effect of duration of physical contact on the valuation of objects," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 3(6), pages 476-482, August.
    13. Charan K. Bagga & Neil Bendle & June Cotte, 2019. "Object valuation and non-ownership possession: how renting and borrowing impact willingness-to-pay," Journal of the Academy of Marketing Science, Springer, vol. 47(1), pages 97-117, January.
    14. I. Lens & M. Pandelaere & L. Warlop, 2009. "The Role of Materialism in the Endowment Effect," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 09/578, Ghent University, Faculty of Economics and Business Administration.

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