The Limits of Fungibility: Relational Schemata and the Value of Things

11 Pages Posted: 17 Feb 2010

See all articles by A. Peter McGraw

A. Peter McGraw

University of Colorado at Boulder - Department of Marketing

Philip E. Tetlock

University of California, Berkeley - Organizational Behavior & Industrial Relations Group; University of Pennsylvania - Management Department

Orie V. Kristel

affiliation not provided to SSRN

Date Written: September 2003

Abstract

Four experiments test predictions on endowment and mental accounting effects of a theoretical perspective that stresses the symbolic-relational significance for consumer transactions and that posits the placement of qualitative boundaries on fungibility. Although people accepted proposals to buy objects acquired in market- pricing relationships as routine, the same proposals in communal-sharing, authority-ranking, and equality-matching relationships triggered distress and errati- cally high dollar valuations. Symbolic ownership history also moderated valuations in a purely market setting, and the effects of symbolic-relational source of income extended even to spending decisions. Examination of the model's ordinal predic- tions revealed stronger effects for equality-matching than for authority-ranking relationships.

Suggested Citation

McGraw, A. Peter and Tetlock, Philip E. and Kristel, Orie V., The Limits of Fungibility: Relational Schemata and the Value of Things (September 2003). Journal of Consumer Research, Vol. 30, No. 2, pp. 219-229, Available at SSRN: https://ssrn.com/abstract=1554009

A. Peter McGraw (Contact Author)

University of Colorado at Boulder - Department of Marketing ( email )

United States

Philip E. Tetlock

University of California, Berkeley - Organizational Behavior & Industrial Relations Group ( email )

Berkeley, CA 94720
United States

University of Pennsylvania - Management Department ( email )

The Wharton School
Philadelphia, PA 19104-6370
United States

Orie V. Kristel

affiliation not provided to SSRN

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
91
Abstract Views
1,603
rank
391,442
PlumX Metrics