Searching, Fast and Slow: How Time Preferences Influence Credit Card Search and Choice

Across eight studies (N = 18,405), we show that present-biased consumers are unwilling to engage in unpleasant search when looking for credit cards. Consequently, they terminate search quickly and choose cards that accrue higher fees. They do not prioritize teaser rates or other attributes differently; they simply search less.


Kellen Mrkva, Elizabeth C Webb, and Eric J Johnson (2019) ,"Searching, Fast and Slow: How Time Preferences Influence Credit Card Search and Choice", in NA - Advances in Consumer Research Volume 47, eds. Rajesh Bagchi, Lauren Block, and Leonard Lee, Duluth, MN : Association for Consumer Research, Pages: 232-236.


Kellen Mrkva, Columbia University, USA
Elizabeth C Webb, Columbia University, USA
Eric J Johnson, Columbia University, USA


NA - Advances in Consumer Research Volume 47 | 2019

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