Pain of Payment and the Moral Tax: the Neural Basis of the Credit Card Effect
Credit cards are believed to heighten the willingness to pay for products by alleviating the pain of payment during purchase. We evaluated this hypothesis at a neural level in an fMRI shopping task. Our findings revealed that payment methods were associated with distinct neural processes distinguishing purchase from non-purchase.
Citation:
Sachin Banker, Derek Dunfield, Alex Huang, and Drazen Prelec (2017) ,"Pain of Payment and the Moral Tax: the Neural Basis of the Credit Card Effect", in NA - Advances in Consumer Research Volume 45, eds. Ayelet Gneezy, Vladas Griskevicius, and Patti Williams, Duluth, MN : Association for Consumer Research, Pages: 514-514.
Authors
Sachin Banker, University of Utah, USA
Derek Dunfield, Massachusetts Institute of Technology, USA
Alex Huang, Massachusetts Institute of Technology, USA
Drazen Prelec, Massachusetts Institute of Technology, USA
Volume
NA - Advances in Consumer Research Volume 45 | 2017
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