Deciding between Domains: How Borrowers Weigh Market and Interpersonal Options

O’Brien, Rourke; Hayes, Adam; Kiviat, Barbara

doi:10.1177/01902725221108964

Cited by 4 publications

(1 citation statement)

References 72 publications

(92 reference statements)

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“…Moreover, the COVID-19 pandemic significantly underscored the necessity for enhanced financial literacy and consumer education, particularly as consumers grappled with unparalleled economic challenges and risks (Baicu et al, 2020). The need for consumer education has increased as the complexity of the marketplace has grown and the incidence of consumer fraud and deception has become more prevalent (Stavins, 2017, Routh, 2022, O'Brien et al, 2022. In South Africa, consumer education remains a critical issue for protecting and empowering consumers.…”

Section: Introductionmentioning

confidence: 99%

A Cognitive Analysis of Consumer Literacy Training and Financial Capability Improvement Among South Africans: A Cross-Sectional Study

MVUNABANDI,

GADZIKWA

2024

OJBE

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By using quantitative and descriptive research approach via a cognitive analysis, this article investigated the influence of consumer literacy training as a tool to improve financial capability among South Africans. Data was gathered from 10300 consumer literacy trainees from Gauteng and Mpumalanga provinces of South Africa and purposively and conveniently sampled. The use of pre- and post-test questionnaire surveys, employing a Likert scale, was identified as crucial for gathering data on cognitive improvement. The collected data underwent analysis through descriptive statistics and regression analysis. To ensure the reliability of the results, robustness analysis was conducted using SPSS version 28 and STATA. Empirical findings from this research study have statistically demonstrated that consumers enhanced their knowledge and skills related to financial capability after receiving consumer financial capability training. This study contributes significantly to the existing literature by addressing a critical gap and substantially enhancing the knowledge of financial capability among the study’s participants. These results carry potential implications for various stakeholders, including donors, consumers, policymakers, financial literacy educators, and finance practitioners, all of whom can play a pivotal role in promoting consumer financial education, particularly in the South African context. The study suggests that the theoretical models developed thus far have primarily focused on the driving forces behind consumer financial capability success. However, these findings also hold substantial promise for academia, policymakers, banks, and other key players in the field of consumer financial capability training, including short courses within South Africa. Furthermore, this study provides a solid foundation for future research aimed at enhancing consumer protection and shedding light on the various factors that may hinder low-income individuals from achieving their financial goals through financial institutions.

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Section: Introductionmentioning

confidence: 99%

A Cognitive Analysis of Consumer Literacy Training and Financial Capability Improvement Among South Africans: A Cross-Sectional Study

MVUNABANDI,

GADZIKWA

2024

OJBE

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Time, ties, transactions: temporality and relational work in economic exchange

Hayes

2024

Theor Soc

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This paper explores the intersection of time and relational economic sociology. Building on Viviana Zelizer’s relational framework, I argue that analyzing the temporal dimensions of exchange provides insight into how social ties gain meaning through economic practices. The paper shows time’s dual role as both an organizing structure bounding action, and a dynamic element that actors leverage to shape transactional contexts. As structure, time offers culturally-available templates like schedules and rhythms that facilitate coordination and signify predictable social meanings befitting particular relational categories. Yet time also constitutes relational work itself; strategic timing, duration, pacing, and sequencing of interactions signal context, manage expectations, and sustain bonds amidst entanglements. Synchronization through temporal agency prevents mismatches between transactions and social contexts that could strain ties. This agency in time ranges from passive adherence to dominant structures to active assertions of power resistance, enabling both domination and defiance across economic contexts. Analyzing shared temporal infrastructure within circuits of commerce further illuminates how actors distinguish those spheres of exchange at various scale from the impersonal market. Ultimately, incorporating temporality strengthens relational economic sociology by identifying a key mechanism through which practices of exchange become relationally meaningful.

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Earmarking space: relationality, economic judgments and housing wealth

Hayes

Besbris

2022

Socio-Economic Review

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Housing wealth is the single largest portion of household wealth in most Western societies today, yet little research has examined how individuals make decisions regarding the use of the housing wealth that they possess. In this article, we leverage insights from relational economic sociology to understand how individuals’ subjective valuations and other economic judgments are influenced when space in a home is relationally earmarked. Using a series of original vignette experiments and survey tasks in conjunction with qualitative responses, we find that earmarking a room for a close social tie does indeed matter for valuation. Furthermore, we reveal that individual economic judgments are strongly influenced by different relational content associated with relational earmarks compared to a control. Put differently, we systematically show how modifying the constitution of an earmark strengthens or lessens the appropriateness of its match and prompts distinct patterns of economic decision-making. Our analyses extend relational economic sociology to studies of housing while also building intellectual bridges with research on judgment and decision-making (JDM).

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Deciding between Domains: How Borrowers Weigh Market and Interpersonal Options

Cited by 4 publications

References 72 publications

A Cognitive Analysis of Consumer Literacy Training and Financial Capability Improvement Among South Africans: A Cross-Sectional Study

A Cognitive Analysis of Consumer Literacy Training and Financial Capability Improvement Among South Africans: A Cross-Sectional Study

Time, ties, transactions: temporality and relational work in economic exchange

Earmarking space: relationality, economic judgments and housing wealth

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