The Effects of Cumulative Consumption Feedback On Demand For Money As A Commodity

Behavioral economic theory describes a relation between response requirement and magnitude of reinforcement, and combines these variables into one independent variable (unit price) affecting operant behavior. This study investigated the relative effects of cumulative feedback on consumption for money as a commodity. Subjects were exposed to ranges of unit prices with or without a cumulative feedback bar on the computer screen indicating monetary earnings. For all participants in this study, consumption of money was a decreasing function of unit prices and the results from the present study are consistent with the behavioral economic prediction that increasing the unit price of a commodity will decrease consumption of that commodity. Analyses of demand curves, elasticity coefficients and response rates suggested differences between Feedback and No Feedback groups, although these were small and not statistically significant. The small differences observed were consistent with a behavior strengthening effect of feedback.

Grantor dc:publisher

University of North Texas

Year dc:date

2001

Author dc:creator

• Bailey, Kathleen

Contributors dc:contributor

• Hyten, Cloyd
• Glenn, Sigrid
• Smith, Richard

• Feedback (Psychology)
• Reinforcement (Psychology)
• commodity
• unit price
• behavioral economic theory
• cumulative feedback

Statement dc:rights

• Public
• Copyright
• Bailey, Kathleen
• Copyright is held by the author, unless otherwise noted. All rights reserved.

Language dc:language

English

Identifier

oclc: 48003558
https://digital.library.unt.edu/ark:/67531/metadc2823/
ark: ark:/67531/metadc2823

OAI identifier oai:identifier

info:ark/67531/metadc2823