Meaning Transforms Money: How Job Satisfaction Affects Consumers' Perception and Use of Their Earnings

We propose that differences in consumers' handling of money can be partly attributed to how consumers earn it: across four studies, we show that consumers' satisfaction with their job imbues the money with greater intrinsic value, thereby changing how they perceive and use their paycheck

A Psychological Perspective on Service Segmentation Models: The Significance of Accounting for Consumers\u27 Perceptions of Waiting and Service

We examine how service should be divided and scheduled when it can be provided in multiple separate segments. We analyze variants of this problem using a model with a conventional function describing the waiting cost, that is modified to account for some aspects of the psychological cost of waiting in line. We show that consideration of the psychological cost can result in prescriptions that are inconsistent with the common wisdom of queuing theorists derived according to the conventional approach (e.g., equal load assignments). More generally, our intention in this paper is to illustrate that aspects of the psychological cost of waiting can be accounted for in the analysis of queuing systems, and that this may have significant implications for the service schemes that are derived

A Psychological Perspective on Service Segmentation Models: The Significance of Accounting for Consumers' Perceptions of Waiting and Service

We examine how service should be divided and scheduled when it can be provided in multiple separate segments. We analyze variants of this problem using a model with a conventional function describing the waiting cost, that is modified to account for some aspects of the psychological cost of waiting in line. We show that consideration of the psychological cost can result in prescriptions that are inconsistent with the common wisdom of queuing theorists derived according to the conventional approach (e.g., equal load assignments). More generally, our intention in this paper is to illustrate that aspects of the psychological cost of waiting can be accounted for in the analysis of queuing systems, and that this may have significant implications for the service schemes that are derived.queuing, psychology of waiting, dissatisfaction, workload allocation, service ordering

Option Attachment: When Deliberating Makes Choosing Feel like Losing

Common sense suggests that consumers make more satisfying decisions as they consider their options more closely. Yet we argue that such close consideration can have undesirable consequences because it may induce attachment to the optionsa sense of prefactual ownership of the choice options. When consumers then select one option, they effectively lose this prefactual possession of the other, nonchosen options. This yields a feeling of discomfort ("choosing feels like losing") and an increase in the attractiveness of the forgone option, compared to its appeal before the choice. A series of nine experiments provides evidence of this phenomenon and support for our explanation.

The Dissociation Between Monetary Assessment and Predicted Utility

We study the dissociation between two common measures of value—monetary assessment of purchase options versus the predicted utility associated with owning or consuming those options, a disparity that is reflected in well-known judgment anomalies and that is important for interpreting market research data. We propose that a significant cause of this dissociation is the difference in how these two types of evaluations are formed—each is informed by different types of information. Thus, dissociation between these two types of measures should not be interpreted as failure to map utility onto money, as such mapping is not really attempted. We suggest that monetary assessment tends to focus on the transaction in which the purchase alternative would be acquired or forgone (e.g., how fair the transaction seems), failing to adequately reflect the purchase alternative itself (e.g., the expected pleasure of owning or consuming it), which is what informs predicted utility judgments. We illustrate the value of this idea by deriving and testing empirical predictions of disparities in the impact of different types of information and manipulations on the two types of value assessment.decision-making, buyer behavior, market research