Tracking Costs of Time and Money

Robin Soster, University of South Carolina, USA
Ashwani Monga, University of South Carolina, USA
William O. Bearden, University of South Carolina, USA
Consumers usually use mental accounts to keep track of the costs that they incur. These accounts are eventually settled in the black if benefits are received, or in the red if benefits are forfeited. We argue that accounting for time involves a consideration of not only costs and benefits, but also of “accounting periods.” Consequently, costs and benefits are linked when both belong to the same accounting period (vs. different periods). In the case of monetary costs, accounting periods do not have such a moderating influence. A series of studies offer supportive evidence.
[ to cite ]:
Robin Soster, Ashwani Monga, and William O. Bearden (2010) ,"Tracking Costs of Time and Money", in NA - Advances in Consumer Research Volume 37, eds. Margaret C. Campbell, Jeff Inman, and Rik Pieters, Duluth, MN : Association for Consumer Research, Pages: 723-724 .