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Tightwads and Spendthrifts

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Author Info

  • Scott I. Rick
  • Cynthia E. Cryder
  • George Loewenstein

Abstract

Consumers often behave differently than they would ideally like to behave. We propose that an anticipatory pain of paying drives "tightwads" to spend less than they would ideally like to spend. "Spendthrifts," by contrast, experience too little pain of paying and typically spend more than they would ideally like to spend. This article introduces and validates the "spendthrift-tightwad" scale, a measure of individual differences in the pain of paying. Spending differences between tightwads and spendthrifts are greatest in situations that amplify the pain of paying and smallest in situations that diminish the pain of paying. (c) 2007 by JOURNAL OF CONSUMER RESEARCH, Inc..

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File URL: http://www.journals.uchicago.edu/doi/pdf/10.1086/523285
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Bibliographic Info

Article provided by University of Chicago Press in its journal Journal of Consumer Research.

Volume (Year): 34 (2008)
Issue (Month): 6 (October)
Pages: 767-782

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Handle: RePEc:ucp:jconrs:v:34:y:2008:i:6:p:767-782

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Web page: http://www.journals.uchicago.edu/JCR/

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Cited by:
  1. Runnemark, Emma & Hedman, Jonas & Xiao, Xiao, 2014. "Do Consumers Pay More Using Debit Cards than Cash? An Experiment," Working Papers 2014:21, Lund University, Department of Economics.
  2. Corrigan, Jay R. & Rousu, Matthew C. & Depositario, Dinah Pura T., 2014. "Do practice rounds affect experimental auction results?," Economics Letters, Elsevier, vol. 123(1), pages 42-44.
  3. Gerrit Frackenpohl & Gert Pönitzsch, 2013. "Bundling Public with Private Goods," Bonn Econ Discussion Papers bgse05_2013, University of Bonn, Germany.
  4. Bo Chen, 2013. "Assignment Games with Externalities And Matching-Based Competition," Bonn Econ Discussion Papers bgse08_2013, University of Bonn, Germany.
  5. Dewitte, Siegfried, 2013. "From willpower breakdown to the breakdown of the willpower model – The symmetry of self-control and impulsive behavior," Journal of Economic Psychology, Elsevier, vol. 38(C), pages 16-25.

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