Lady Luck: Anthropomorphized Luck Creates Perceptions of Risk-Sharing and Drives Pursuit of Risky Alternatives

We examine decision-making under risk as a function of the degree to which consumers anthropomorphize their luck. We propose that consumers make riskier financial decisions when they anthropomorphize (vs. objectify) their luck and that this effect occurs because humanizing luck engenders a perceived sharing of risk in the presence of “lady luck.” A series of experiments shows that consumers among whom anthropomorphized versus objectified luck is salient display greater risk-taking in financial, but not social, decisions. These effects are heightened among consumers who frequently engage in risky decision-making and are driven by perceptions of risk-sharing produced by anthropomorphized luck. Collectively, these findings document how anthropomorphizing luck can influence consumers’ decision-making within the financial domain. We discuss important consumer welfare implications associated with the negative consequences that result from repeated detrimental consumer behaviors, particularly given the pervasive use of anthropomorphized luck by marketers in the gambling domain

Together We Stand: The Solidarity Effect of Personized Sellers on Essential Workers

The current research examines how products from personized sellers operate as a source of social support and solidarity for essential workers who are experiencing elevated levels of occupational stress since the advent of COVID-19. A series of experiments show that consumers who view themselves as essential workers prefer products from personized sellers (e.g., Etsy) compared to nonpersonized sellers (e.g., Amazon). These effects are driven by higher feelings of solidarity made salient by the personized seller. Our findings document a novel way by which consumers who are experiencing significantly high levels of occupational stress during the COVID-19 pandemic may seek social support and solidarity to help cope with this elevated stress, that is, purchasing products from personized sellers. Our findings offer valuable avenues for future research and provide important implications for policy makers during the pandemic