Focusing on the big picture: How widening attention decreases spending
Shin, Faith
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https://hdl.handle.net/2142/105576
Description
Title
Focusing on the big picture: How widening attention decreases spending
Author(s)
Shin, Faith
Issue Date
2019-05-14
Director of Research (if dissertation) or Advisor (if thesis)
Cohen, Dov
Doctoral Committee Chair(s)
Cohen, Dov
Committee Member(s)
Albarracín, Dolores
Cheng, Joey
Lawless, Robert
Lyons, Angela
Department of Study
Psychology
Discipline
Psychology
Degree Granting Institution
University of Illinois at Urbana-Champaign
Degree Name
Ph.D.
Degree Level
Dissertation
Keyword(s)
Judgment and Decision Making, Financial Decision Making, Opportunity Cost
Abstract
Seven studies tested the hypothesis that thinking about one’s overall financial situation (e.g., how much one has in total debts, assets, or net worth) reduces participants’ willingness to spend. Four of the seven studies found significant results in favor of this hypothesis; however, three of the studies resulted in null effects. There was variation from study to study, with some changes to the dependent measures and some studies containing additional mediating measures, so a meta-analysis of the seven studies was conducted. Studies 5 through 8 attempted to find a significant mediator for this effect, including testing whether participants are more likely to consider opportunity costs, have an abstract construal, feel financial scarcity, or experience negative emotion, compared to the control condition. However, no significant mediating measure was identified. Future plans for additional research are discussed.
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