Hoarding symptoms correlate with the endowment effect

Pushkarskaya, Helen; Lenkic, Peter; Stewart, Brent A.; Tolin, David F.; Woody, Sheila R.

doi:10.1016/j.jbct.2020.06.002

Cited by 6 publications

(12 citation statements)

References 31 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Customers ' did not prefer to spend time inside the store exploring new launches ” (RI4, 55, male). The retailer tried to use push marketing strategies and adopted innovative media such as mobile services but could still not push the sale of unfamiliar items to customers (Brocato, 2010; Olver and Farris, 1989; Pushkarskaya et al. , 2020).…”

Section: Thematic Analysis Resultsmentioning

confidence: 99%

“…Customers' did not prefer to spend time inside the store exploring new launches" (RI4, 55, male). The retailer tried to use push marketing strategies and adopted innovative media such as mobile services but could still not push the sale of unfamiliar items to customers (Brocato, 2010;Olver and Farris, 1989;Pushkarskaya et al, 2020). For suggested impulse products barring sales via online channels, sales were primarily low owing to the lack of awareness among customers during the pandemic.…”

Section: Thematic Analysis Resultsmentioning

confidence: 99%

“…We also recommend that offline retailers send the details of new products via electronic means of communication (like online retailers) and send the actual products for trial. The endowment effect can favor retailers (Pushkarskaya et al. , 2020; Xie et al.…”

Section: Discussionmentioning

confidence: 99%

See 2 more Smart Citations

Impulse purchases during emergency situations: exploring permission marketing and the role of blockchain

Nigam

Behl

Pereira

et al. 2022

IMDS

View full text Add to dashboard Cite

PurposeThe paper explores how consumer behavior for purchasing impulse products changed in the complex and disruptive (emergency) situation of the COVID-19 pandemic when the customer is shopping in-home and not visiting the offline stores in an emerging economy context. This paper further explores how digital transformations like the use of blockchain technology can aid offline/omnichannel retailers in reviving sales via permission marketing for impulse products.Design/methodology/approachThe authors followed a qualitative research design and conducted 24 personal interviews with millennials and 15 interviews with offline/omnichannel retailers from an emerging economy. The data collected were analyzed using the thematic analysis procedure.FindingsThe authors discuss their findings under three themes – customers' conscious impulse buying during the pandemic, customers' unconscious impulse buying during the pandemic, and a viable solution for retailers in response to the pandemic.Practical implicationsThe authors suggest that marketers primarily from an offline/omnichannel store should adapt to permission marketing and use technologies like blockchain for the digital transformation of their marketing strategies. Doing so can help offline retailers minimize future damages in the retail sector during emergency situations.Originality/valueThis paper is one of the first that explores how impulse – pure, suggestion, planned and reminder – purchases got affected during the COVID-19 pandemic disruptions in an emerging economy. This paper is also one of the first to explore the role of permission marketing and digital transformation by the use of blockchain in helping offline retailers in forming swift trust and practice trust-based marketing.

show abstract

Section: Thematic Analysis Resultsmentioning

confidence: 99%

Section: Thematic Analysis Resultsmentioning

confidence: 99%

See 1 more Smart Citation

Impulse purchases during emergency situations: exploring permission marketing and the role of blockchain

Nigam

Behl

Pereira

et al. 2022

IMDS

View full text Add to dashboard Cite

show abstract

“…Consumer choices are thus directly linked to competition and competing interests Durante and Griskevicius (2016) which are also subject to endocrine effects Cherki et al (2021). An extreme feeling of possession may lead to an excessive acquisition of items resulting in experiencing difficulties discarding them, which can be linked to hoarding disorder Pushkarskaya et al (2020).…”

Section: Testosterone and Consumerism Endowment Effectmentioning

confidence: 99%

A Bayesian Modelling Approach to Examine the Role of Testosterone Administration on the Endowment Effect and Risk-Taking

Votinov¹,

Knyazeva²,

Habel³

et al. 2021

Preprint

View full text Add to dashboard Cite

We investigated the effects of testosterone administration on aspects of decision-making within the Prospect Theory framework. Using bayesian modeling, we assessed risk-taking under framing and Endowment Effect (effect of possession). We administered 100mg testosterone to forty men in a double-blind placebo-controlled fully-randomized cross-over experiment where they participated in two tasks. One was a risktaking task with binary choices under positive and negative framing with different probabilities. In a second task, participants had to bid for for two categories of items, hedonic and utilitarian. We observed a signiﬁcant increase in serum testosterone concentrations after transdermal application. Compared to placebo, testosterone administration increased risk-taking under the positive framing and decreased under the negative framing. The sensitivity to gain was positive in each framing. Our model showed that decision-making is jointly inﬂuenced by testosterone and the trade-off between gains and losses. Moreover, while the endowment effect was more pronounced for hedonic than for utilitarian items, the effect was independent of testosterone. The ﬁndings provide novel information for the complex modulatory role of testosterone on risk-taking. The proposed models of effects of individual differences in testosterone on risk-taking could be used as predictive models.

show abstract

“…This observation underscores a status quo bias toward own goods. Furthermore, an extreme feeling of possession may lead to an excessive acquisition of items resulting in experiencing difficulties discarding them, which can be linked to hoarding disorder (Pushkarskaya et al, 2020 ). In another words the EE is a byproduct of loss aversion in a way that the losing things is more painful than enjoyment of gaining them.…”

Section: Introductionmentioning

confidence: 99%

A Bayesian Modeling Approach to Examine the Role of Testosterone Administration on the Endowment Effect and Risk-Taking

et al. 2022

View full text Add to dashboard Cite

Financial risk-taking and loss aversion are multifaceted phenomena that are the focus of neuroscience, psychology, and economics research. A growing number of studies highlighted the role of hormones (particularly of testosterone) on socio-economic decision-making. However, the effects of testosterone on risk-taking under framing and consumer-based choices and preferences are inconclusive. We investigated the effects of 100 mg testosterone administration on aspects of decision-making within the Prospect Theory framework which is the most used descriptive model of decision-making under risk. We assessed risk-taking under framing and the endowment effect (effect of possession) using Bayesian modeling. Forty men participated in this double-blind placebo-controlled fully-randomized cross-over experiment and performed two tasks. One was a risk-taking task with binary choices under positive and negative framing associated with different probabilities. In the second task participants had to bid money for hedonic and utilitarian items. We observed a significant increase in serum testosterone concentrations after transdermal application. Compared to placebo, testosterone administration increased risk-taking under the positive framing (very large effect size) and decreased under the negative framing (moderate to small). The sensitivity to gain was positive in each framing. Our model showed that decision-making is jointly influenced by testosterone and the trade-off between gains and losses. However, while the endowment effect was more pronounced for hedonic than for utilitarian items, the effect was independent of testosterone. The findings provide novel information on the complex modulatory role of testosterone on risk-taking within the framework of prospect theory and shed light on mechanisms of behavioral economic biases. The proposed models of effects of individual differences in testosterone on risk-taking could be used as predictive models for reference-depended behavior under positive and negative framing with low and high probabilities.

show abstract

Hoarding symptoms correlate with the endowment effect

Cited by 6 publications

References 31 publications

Impulse purchases during emergency situations: exploring permission marketing and the role of blockchain

Impulse purchases during emergency situations: exploring permission marketing and the role of blockchain

A Bayesian Modelling Approach to Examine the Role of Testosterone Administration on the Endowment Effect and Risk-Taking

A Bayesian Modeling Approach to Examine the Role of Testosterone Administration on the Endowment Effect and Risk-Taking

Contact Info

Product

Resources

About