Abstract

http://ssrn.com/abstract=898080
 
 

References (56)



 
 

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Tightwads and Spendthrifts


Scott Rick


The Stephen M. Ross School of Business at the University of Michigan

Cynthia Cryder


Washington University in Saint Louis - John M. Olin Business School

George Loewenstein


Carnegie Mellon University - Department of Social and Decision Sciences

June 28, 2007


Abstract:     
Consumers often behave differently than they would ideally like to behave. We propose that an anticipatory pain of paying drives tightwads to spend less than they would ideally like to spend. Spendthrifts, by contrast, experience too little pain of paying and typically spend more than they would ideally like to spend. This article introduces and validates the Tightwad-Spendthrift scale, a measure of individual differences in the pain of paying. Spending differences between tightwads and spendthrifts are greatest in situations that amplify the pain of paying and smallest in situations that diminish the pain of paying.

Number of Pages in PDF File: 44

Keywords: Consumer Decision Making, Individual Differences, Behavioral Economics, Experimental Economics

JEL Classification: C91, D91, M31

working papers series


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Date posted: April 26, 2006  

Suggested Citation

Rick, Scott and Cryder, Cynthia and Loewenstein, George, Tightwads and Spendthrifts (June 28, 2007). Available at SSRN: http://ssrn.com/abstract=898080 or http://dx.doi.org/10.2139/ssrn.898080

Contact Information

Scott Rick (Contact Author)
The Stephen M. Ross School of Business at the University of Michigan ( email )
701 Tappan Street
Ann Arbor, MI MI 48109
United States
HOME PAGE: http://webuser.bus.umich.edu/srick/
Cynthia Cryder
Washington University in Saint Louis - John M. Olin Business School ( email )
One Brookings Drive
Campus Box 1133
St. Louis, MO 63130-4899
United States
George F. Loewenstein
Carnegie Mellon University - Department of Social and Decision Sciences ( email )
Pittsburgh, PA 15213-3890
United States
412-268-8787 (Phone)
412-268-6938 (Fax)
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