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May 21, 2013
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Journal of Consumer Research
Current Issue Highlights


Money Isn't Everything, but It Helps If It Doesn't Look Used: How the Physical Appearance of Money Influences Spending

Fabrizio Di Muro
Theodore J. Noseworthy


Despite evidence that currency denomination can influence spending, researchers have yet to examine whether the physical appearance of money can do the same. This is important because smaller denomination bills tend to suffer greater wear than larger denomination bills. Using real money in the context of real purchases, this article demonstrates that the physical appearance of money can override the influence of denomination. Consumers want to rid themselves of worn bills because they are disgusted by the contamination from others, whereas they put a premium on crisp currency because they take pride in owning bills that can be spent around others. This suggests that the physical appearance of money matters more than traditionally thought, and like most things in life, it too is inextricably linked to the social context. The results suggest that money may be less fungible than people think.

Volume 39, Number 6, April 2013
DOI: 10.1086/668406

 

Selected Media Mentions

 

The Wall Street Journal

 

Bloomberg Businessweek

 

Forbes     

 

Trying to save money? Ask for crisp new bills at the bank
EurekAlert!  
 
 

Eternal Quest for the Best: Sequential (vs. Simultaneous) Option Presentation Undermines Choice Commitment

Cassie Mogilner
Baba Shiv
Sheena S. Iyengar


A series of laboratory and field experiments reveals a detrimental effect of presenting options sequentially (one at a time) versus simultaneously (all at once) on choosers' satisfaction with and commitment to their chosen option. Consumers presented with their options simultaneously tend to remain focused on the current set of options, comparing them among each other; whereas consumers presented with their options sequentially tend to imagine a better option, hoping it will become available. This feeling of hope undermines how consumers subsequently experience their selected option, resulting in lower satisfaction and commitment levels. Sequential choosers consequently exhibit lower outcome satisfaction regardless of which option they choose, whether sequentially passed-up options remain available, and whether they have equivalent option information to simultaneous choosers. Thus, enjoying the most satisfaction from one's choice might require being willing to give up the eternal quest for the best.

Volume 39, Number 6, April 2013
DOI: 10.1086/668534

 

Selected Media Mentions


Price Inferences for Sacred versus Secular Goods: Changing the Price of Medicine Influences Perceived Health Risk

Adriana Samper
Janet A. Schwartz


The current research examines how the price of a medication influences consumers' beliefs about their own disease risk -- a critical question with new laws mandating greater price transparency for health care goods and services. Consumers believe that lifesaving health goods are priced according to perceived need (communal-sharing principles) and that price consequently influences risk perceptions and intentions to consume care. Specifically, consumers believe that lower medication prices signal greater accessibility to anyone in need, and such accessibility thus makes them feel that their own self-risk is elevated, increasing consumption. The reverse is true for higher prices. Importantly, these effects are limited to self-relevant health threats and reveal that consumers make inconsistent assumptions about risk, prevalence, and need with price exposure. While greater price transparency may indeed reduce consumption of higher-priced goods, it may do so for both necessary and unnecessary care.

Volume 39, Number 6, April 2013 
DOI: 10.1086/668639

 

Selected Media Mentions

 

FOX Business

 

Science Daily    

 

Does changing the price of medicine influence consumers' perceived health risk?
EurekAlert!  
 
 

The Desire for Consumption Knowledge

Joshua J. Clarkson
Chris Janiszewski
Melissa D. Cinelli


Are consumers motivated to seek out experiences that enhance their appreciation within a product category -- and if so, does their level of experiential expertise (or consumption knowledge) within a product category bias the types of experiences they value and pursue? These questions are central to the present research, which explores the premise that consumers value the accrual of consumption knowledge as a means of enhancing their hedonic appreciation of future consumption experiences in a product category. A consumer's perceived level of experiential knowledge determines the types of novel consumption experiences that are sought within a product category. Specifically, novices seek a diverse set of experiences that broaden their consumption knowledge in a product category, whereas experts seek a focused set of experiences that deepen their consumption knowledge in a product category. Implications for current conceptualizations of both novelty seeking and consumption knowledge are discussed.

Volume 39, Number 6, April 2013
DOI: 10.1086/668535

 

Selected Media Mentions

 

Science Daily

 

Phys.Org       

 

Novice or expert: How do consumers increase their knowledge about products?
EurekAlert!  
 
 



 


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