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Sequential loss of self-control: Exploring the antecedents and consequences of student credit card debt

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  • James W. Peltier

    () (University of Wisconsin-Whitewater)

  • Andrew J. Dahl

    () (University of Wisconsin-Whitewater)

  • John E. Schibrowsky

    () (University of Nevada-Las Vegas)

Abstract

Self-control lapses not only impact credit card debt, but combined with this debt lead to further self-control lapses and life stressors for consumers. A causal model is developed and tested exploring college students’ pre-/post-debt decisions as a series of sequential losses in self-control, and how initial and post-failure decisions impact financial anxiety. Pre-debt loss of control takes on two forms: materialism and impulsivity. Locus of control theory is used to test how post-failure self-control lapses negatively impact the psychological well-being of consumers. A better understanding of these time-ordered self-control mechanisms offers insights for developing educational and policy interventions useful for staving off self-control lapses early in the decision-making process.

Suggested Citation

  • James W. Peltier & Andrew J. Dahl & John E. Schibrowsky, 2016. "Sequential loss of self-control: Exploring the antecedents and consequences of student credit card debt," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 21(3), pages 167-181, September.
  • Handle: RePEc:pal:jofsma:v:21:y:2016:i:3:d:10.1057_s41264-016-0002-5
    DOI: 10.1057/s41264-016-0002-5
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    References listed on IDEAS

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    Cited by:

    1. Shweta Singh & David H. Rylander & Tina C. Mims, 2018. "Understanding credit card payment behavior among college students," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 23(1), pages 38-49, March.

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