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A Generalizable Scale of Propensity to Plan: The Long and the Short of Planning for Time and for Money

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  • John G. Lynch Jr.
  • Richard G. Netemeyer
  • Stephen A. Spiller
  • Alessandra Zammit
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    Abstract

    Planning has pronounced effects on consumer behavior and intertemporal choice. We develop a six-item scale measuring individual differences in propensity to plan that can be adapted to different domains and used to compare planning across domains and time horizons. Adaptations tailored to planning time and money in the short run and long run each show strong evidence of reliability and validity. We find that propensity to plan is moderately domain-specific. Scale measures and actual planning measures show that for time, people plan much more for the short run than the long run; for money, short- and long-run planning differ less. Time and money adaptations of our scale exhibit sharp differences in nomological correlates; short-run and long-run adaptations differ less. Domain-specific adaptations predict frequency of actual planning in their respective domains. A "very long-run" money adaptation predicts FICO credit scores; low planners thus face materially higher cost of credit. (c) 2009 by JOURNAL OF CONSUMER RESEARCH, Inc..

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    File URL: http://www.journals.uchicago.edu/doi/pdf/10.1086/649907
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    Bibliographic Info

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

    Volume (Year): 37 (2010)
    Issue (Month): 1 (06)
    Pages: 108-128

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    Handle: RePEc:ucp:jconrs:v:37:y:2010:i:1:p:108-128

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

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    Cited by:
    1. Ali Besharat & Daniel Ladik & François Carrillat, 2014. "Are maximizers blind to the future? When today’s best does not make for a better tomorrow," Marketing Letters, Springer, vol. 25(1), pages 77-91, March.
    2. Pérez-Arechaederra, Diana & Briones, Elena & Lind, Allan & García-Ortiz, Luis, 2014. "Perceived Organizational Justice in Care Services: Creation and multi-sample validation of a measure," Social Science & Medicine, Elsevier, vol. 102(C), pages 26-32.

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