Focusing on the big picture: How widening attention decreases spending

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.

Name thesis:degree_name

Ph.D.

Level thesis:degree_level

Dissertation

Discipline thesis:degree_discipline

Psychology

Grantor

University of Illinois at Urbana-Champaign

Year dc:date

2019

Author dc:creator

• Shin, Faith

Contributors dc:contributor

• Cohen, Dov
• Albarracín, Dolores
• Cheng, Joey
• Lawless, Robert
• Lyons, Angela

• Judgment and Decision Making, Financial Decision Making, Opportunity Cost

Statement dc:rights

• Copyright 2019 Faith Shin

Language dc:language

en

Handle dc:identifier

http://hdl.handle.net/2142/105576

OAI identifier oai:identifier

oai:www.ideals.illinois.edu:2142/105576