Debt Aversion and the Trajectories of Psychological Pain
Why are consumers debt-averse? We demonstrate that projecting psychological pain that increases over a loan’s lifecycle causes greater aversion to debt than projecting pain that peaks at the time of take-out. The former group gives greater consideration to the pain of repayment and less consideration to consumption the debt affords.
Citation:
Adam Eric Greenberg and Hal E. Hershfield (2016) ,"Debt Aversion and the Trajectories of Psychological Pain", in NA - Advances in Consumer Research Volume 44, eds. Page Moreau, Stefano Puntoni, and , Duluth, MN : Association for Consumer Research, Pages: 123-127.
Authors
Adam Eric Greenberg, UCLA Anderson School of Management, USA
Hal E. Hershfield, UCLA Anderson School of Management, USA
Volume
NA - Advances in Consumer Research Volume 44 | 2016
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