Doing It the Hard Way: More Effortful Saving Leads to Less Investing
Consumers can build wealth over time by saving and subsequently investing their money. While past research suggests encouraging effortful financial behaviors can increase consumers’ savings, we show in seven studies using real money that perceiving saving as effortful can backfire, reducing individuals’ willingness to invest, leading to lower accumulated wealth.
Citation:
Joshua I Morris, Szu-chi Huang, and Christopher Bechler (2018) ,"Doing It the Hard Way: More Effortful Saving Leads to Less Investing", in NA - Advances in Consumer Research Volume 46, eds. Andrew Gershoff, Robert Kozinets, and Tiffany White, Duluth, MN : Association for Consumer Research, Pages: 252-257.
Authors
Joshua I Morris, Stanford University, USA
Szu-chi Huang, Stanford University, USA
Christopher Bechler, Stanford University, USA
Volume
NA - Advances in Consumer Research Volume 46 | 2018
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