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Affective and rational consumer choice modes: The role of intuition, analytical decision-making, and attitudes to money

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Author Info

  • Andersson, Patric

    ()
    (Dept. of Business Administration, Stockholm School of Economics)

  • Engelberg, Elisabeth

    ()
    (Dept. of Business Administration, Stockholm School of Economics)

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    Abstract

    This paper was motivated by a paucity of research addressing how consumer decision-making is related to beliefs about money and different modes of reasoning. To investigate this issue, data were collected from 142 participants, who filled out questionnaires involving scales aimed to measure affective and rational purchase approaches, intuitive and analytical decision-making styles, as well as money attitudes. One finding was that consumers interchangeably rely on affective and rational approaches when interacting with the marketplace. Another finding was that those approaches were not only related to either intuitive or analytical decision-making styles but also to money attitudes. The findings are argued to provide an impetus to continuous investigation of the role of decision-making styles and money beliefs for consumer choice modes.

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    File URL: http://swoba.hhs.se/hastba/papers/hastba2006_013.pdf
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    Bibliographic Info

    Paper provided by Stockholm School of Economics in its series Working Paper Series in Business Administration with number 2006:13.

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    Length: 16 pages
    Date of creation: 03 Jan 2006
    Date of revision:
    Handle: RePEc:hhb:hastba:2006_013

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    Postal: The Economic Research Institute, Stockholm School of Economics, P.O. Box 6501, SE 113 83 Stockholm, Sweden
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    Related research

    Keywords: affect; attitudes to money; consumer choice; decision-making; intuition; shopping orientation; reasoning;

    This paper has been announced in the following NEP Reports:

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    1. Allen, Michael W. & Ng, Sik Hung, 1999. "The direct and indirect influences of human values on product ownership," Journal of Economic Psychology, Elsevier, vol. 20(1), pages 5-39, February.
    2. Peterson, Robert A, 1994. " A Meta-analysis of Cronbach's Coefficient Alpha," Journal of Consumer Research, University of Chicago Press, vol. 21(2), pages 381-91, September.
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