With Great Power Comes Financial Responsibility: the Effect of Power on Saving

Emily Garbinsky, Stanford University, USA
Anne Klesse, Tilburg University, The Netherlands
Jennifer Aaker, Stanford University, USA
How can we encourage people to save more money? The results of three laboratory experiments reveal that feeling powerful increases saving. This feeling of power, spurred by postures, mindset priming tasks, or subjective wealth, causes people to save more money because they feel like their savings goal can be attained.
[ to cite ]:
Emily Garbinsky, Anne Klesse, and Jennifer Aaker (2013) ,"With Great Power Comes Financial Responsibility: the Effect of Power on Saving", in NA - Advances in Consumer Research Volume 41, eds. Simona Botti and Aparna Labroo, Duluth, MN : Association for Consumer Research.