Asia Marketing Journal

  • 제20권2호
  • /
  • Pages.29-40
  • /
  • 2018
  • /
  • 1598-7868(pISSN)
  • /
  • 2765-6500(eISSN)
한국마케팅학회 (Korean Marketing Association)
권호 표지
DOI QR코드

DOI QR Code

A Future Contraction Effect in Intertemporal Choice for Durable Goods

  • 투고 : 2018.03.27
  • 심사 : 2018.07.20
  • 발행 : 2018.07.31
PDF 다운로드
⟨ 이전 논문 다음 논문 ⟩

초록

Recent research reported that perception of future time is non-linearly scaled. That is, as objective time gets longer, subjective perception of the objective time does not grow proportionally. The non-linear time perception implies that the same future time feels shorter when it starts in the future than when it starts immediately. The authors call this as a future contraction effect. The current research tests two important implications of the effect regarding consumers' intertemporal preference for durable goods. First, consumers who contract future more will be more impatient for durable goods compared to those who contract less because the former would feel to use the same durable goods longer when it is purchased immediately. Second, consumers' impatience will be alleviated when their tendency to contract future is reduced. The authors find support for these predictions through two studies. Taken together, the current research demonstrates a property of time perception that has important ramifications for understanding consumers' intertemporal preference for durable goods.

키워드

참고문헌

  1. Bartels, Daniel M. and Lance J. Rips (2010), "Psychological Connectedness and Intertemporal Choice," Journal of experimental psychology: General, 139, 49-69.
  2. Bartels, Daniel M. and Oleg Urminsky (2011), "On Intertemporal Selfishness: How the Perceived Instability of Identity Underlies Impatient Consumption," Journal of Consumer Research, 38, 182-98.
  3. Bickel, Warren K. and Lisa A. Marsch (2001), "Toward a behavioral economic understanding of drug dependence: delay discounting processes," Addiction, 96(1), 73-86.
  4. Bilgin, Baler and Robyn A. LeBoeuf (2010), "Looming Losses in Future Time Perception," Journal of Marketing Research, 47, 520-30.
  5. Chabris, Christopher F., David Laibson, Carrie L. Morris, Jonathon P. Schuldt and Dmitry Taubinsky (2008), "Individual laboratorymeasured discount rates predict field behavior," Journal of Risk and Uncertainty, 37(2-3), 237.
  6. Ebert, Jane E. and Drazen Prelec (2007), "The Fragility of Time: Time-Insensitivity and Valuation of the Near and Far Future," Management Science, 53, 1423-38.
  7. Hardisty, David and Elke Weber (2009), "Discounting Future Green: Money vs. the Environment," Journal of Experimental Psychology: General, 138, 329-40.
  8. Killeen, Peter R. (2009), "An Additive-Utility Model of Delay Discounting," Psychological Review, 116, 602-19.
  9. Kim, B. Kyu and Gal Zauberman (2009), "Perception of Anticipatory Time in Temporal Discounting," Journal of Neuroscience, Psychology, and Economics, 2, 91-101.
  10. Kirby, Kris N. and Nancy M. Petry (2004), "Heroin and cocaine abusers have higher discount rates for delayed rewards than alcoholics or non-drug-using controls," Addiction, 99, 461-471.
  11. Loewenstein, George (1996), "Out of control: Visceral influences on behavior," Organizational Behavior and Human Decision Processes, 65(3), 272-292.
  12. Loewenstein, George and Drazen Prelec (1992), "Anomalies in Intertemporal Choice: Evidence and an Interpretation," The Quarterly Journal of Economics, 107, 573-97.
  13. Stevens, Stanley S. (1957), "On the Psychophysical Law," Psychological Review, 64, 153-81. Thaler, Richard (1981), "Some empirical evidence on dynamic inconsistency," Economic Letters, 8(3), 201-207.
  14. Zauberman, Gal, B. Kyu Kim, Selin Malkoc, James R. Bettman (2009), "Time Discounting and Discounting Time," Journal of Marketing Research, 46, 543-56.