Exploring the Payday Effect: Anxiety Before Payday Leads to Overspending
While standard economic theory suggests that individuals spending should not change in response to regular income, research shows that individuals spend more following a payday. Using both real transaction data and experiments, this work demonstrates that anxiety leads individuals to construe their income as a windfall leading to overspending.
Laura Goodyear, Chuck Howard, Marcel Lukas, and Avni Shah (2020) ,"Exploring the Payday Effect: Anxiety Before Payday Leads to Overspending", in NA - Advances in Consumer Research Volume 48, eds. Jennifer Argo, Tina M. Lowrey, and Hope Jensen Schau, Duluth, MN : Association for Consumer Research, Pages: 372-373.
Laura Goodyear, University of Toronto, Canada
Chuck Howard, Texas A&M University, USA
Marcel Lukas, University of St Andrews
Avni Shah, University of Toronto, Canada
NA - Advances in Consumer Research Volume 48 | 2020
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