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.
Citation:
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.
Authors
Kellen Mrkva, Columbia University, USA
Elizabeth C Webb, Columbia University, USA
Eric J Johnson, Columbia University, USA
Volume
NA - Advances in Consumer Research Volume 47 | 2019
Share Proceeding
Featured papers
See MoreFeatured
J8. Exchange with The Rich, Concern with The Poor: The Effects of Social Class on Consumer Response to Brand Relationship
Bing Han, Shanghai Jiao Tong University
Liangyan Wang, Shanghai Jiao Tong University
Featured
Worse is Bad: Asymmetric Inferences on Items and Assortments From Logically Equivalent Comparisons
Yoel Inbar, University of Toronto, Canada
Ellen Evers, University of California Berkeley, USA
Featured
Can Making Family Salient Improve Retirement Contributions? Evidence from Field Experiments in Mexico
Avni Shah, University of Toronto, Canada
Matthew Osborne, University of Toronto, Canada
Jaclyn Lefkowitz, IDEAS42
Andrew Fertig, IDEAS42
Dilip Soman, University of Toronto, Canada
Nina Mazar, Boston University, USA