Money, Time, and the Stability of Consumer Preferences

Publication Type

Journal Article

Publication Date

4-2015

Abstract

Consumers often make product choices that involve the consideration of money and time. Building on dual-process models, the authors propose that these two basic resources activate qualitatively different modes of processing: while money is processed analytically, time is processed more affectively. Importantly, this distinction then influences the stability of consumer preferences. An initial set of three experiments demonstrates that, compared with a control condition free of the consideration of either resource, money consideration generates significantly more violations of transitivity in product choice, while time consideration has no such impact. The next three experiments use multiple approaches to demonstrate the role of different processing modes associated with money versus time consideration in this result. Finally, two additional experiments test ways in which the cognitive noise associated with the analytical processing that money consideration triggers could be reduced, resulting in more consistent preferences.

Keywords

money, time, consumer choice, preference consistency, dual-process models

Discipline

Marketing | Sales and Merchandising

Research Areas

Marketing

Publication

Journal of Marketing Research

Volume

52

Issue

2

First Page

184

Last Page

199

ISSN

0022-2437

Identifier

10.1509/jmr.10.0386

Publisher

American Marketing Association

Additional URL

https://doi.org/10.1509/jmr.10.0386

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