Consumer wealth

Tully, Stephanie; Sharma, Eesha

doi:10.1002/arcp.1073

Cited by 21 publications

(18 citation statements)

References 115 publications

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“…While a scarcity mindset is partly subjective, resource scarcity can be manipulated by making a valuable resource more or less available. While some studies conceptualized scarcity in subjective terms (e.g., with respect to social reference groups, Tully & Sharma, 2022), in the current study we opt for a definition by manipulating the monetary resources available to cope with the demand.…”

Section: Introductionmentioning

confidence: 99%

Scarcity Captures Attention and Induces Neglect: Eyetracking and Behavoral Evidence

Tomm¹,

Shafir

Zhao³

2023

Preprint

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Scarcity poses challenging demands on the mind that can make escaping scarcity difficult. Using eyetracking and behavioral evidence, we find that scarcity induces an attentional focus, enhancing processing of scarcity-relevant information, while at the same time causing a failure to notice peripheral material, including information that may have proven beneficial in alleviating the scarcity condition. Participants were randomly assigned to a scarcity condition (with a small budget) or a control condition (with a large budget) while ordering a meal from a menu in a lab setting, while their eye gaze was tracked. We found that, compared to controls, participants under financial scarcity looked more at price information but less at the food items, calories and a discount that could alleviate their budget constraint (Experiment 1). In a subsequent memory test, participants under scarcity recalled price information more accurately than control participants (Experiment 2), and likewise those under calorie scarcity recalled calorie information more accurately than controls (Experiment 3). The results were replicated in a larger participant sample, where those under scarcity were less likely to request the discount than control participants (Experiment 4, Experiment 5 as a pre-registered replication). This neglect could be due to limited attention to peripheral information under scarcity (Experiment 6). These results support the notion that scarcity induces an attentional focus on scarcity-relevant information, while causing neglect elsewhere, including of beneficial information that can alleviate the scarcity condition. The findings help explain a range of counter-productive behaviors under scarcity and suggest ways to think about policy design and implementation to better guide attention and prevent neglect.

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Section: Introductionmentioning

confidence: 99%

Scarcity Captures Attention and Induces Neglect: Eyetracking and Behavoral Evidence

Tomm¹,

Shafir

Zhao³

2023

Preprint

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“…Future research could also test the boundaries of the experiment model advanced here. As argued by researchers (Pennebaker et al, 2015;Lim, 2022;Tully & Sharma, 2022), it is possible that certain consumer or situational factors render different emotional reactions from those in this study, where results could be attenuated or strengthened. For instance, visual stimuli such as those adopted…”

Section: Future Researchmentioning

confidence: 67%

Science Mapping: A Bibliometric Analysis of Sustainability Among SMES

2023

JIBM

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Consumers' selections and decision-making processes are some of the most exciting and challenging topics in neuromarketing, sales, and branding. From a global perspective, multicultural influences and societal conditions are crucial to consider. Neuroscience applications in international marketing and consumer behavior is an emergent and multidisciplinary field aiming to understand consumers' thoughts, reactions, and selection processes in branding and sales. This study focuses on real-time monitoring of different physiological signals using eye-tracking, facial expressions recognition, and Galvanic Skin Response (GSR) acquisition methods to analyze consumers' responses, detect emotional arousal, measure attention or relaxation levels, analyze perception, consciousness, memory, learning, motivation, preference, and decision-making. This research aimed to monitor human subjects' reactions to these signals during an experiment designed in three phases consisting of different branding advertisements. The nonadvertisement exposition was also monitored while gathering survey responses at the end of each phase. A feature extraction module with a data analytics module was implemented to calculate statistical metrics and decision-making supporting tools based on Principal Component Analysis (PCA) and Feature Importance (FI) determination based on the Random Forest technique. The results indicate that when compared to image ads, video ads are more effective in attracting consumers' attention and creating more emotional arousal.

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“…On the other hand, consumption adequacy emphasizes the individualization and time‐bounded nature of resources (Farrell & Hill, 2018). Thus, consumption adequacy incorporates both objective and subjective elements, which aligns with definitions of resource scarcity (Cannon et al, 2019; Hamilton, Mittal, et al, 2019; Hamilton, Thompson, et al, 2019) and recent conceptualizations of SES and consumer wealth (Antonoplis, 2022; Tully & Sharma, 2022).…”

Section: Building An Integrated Model Of Resource Scarcitymentioning

confidence: 90%

Rethinking scarcity and poverty: Building bridges for shared insight and impact

et al. 2022

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On the surface, it is ironic that topics of consumer poverty and consumer resource scarcity have rarely been studied together. Looking deeper, we see distinct approaches for exploring various forms of scarcity, while noting that scarcity and poverty research do differ on dimensions other than resource deprivation. In particular, resource scarcity research builds upon a psychological tradition and develops cognitive models using diverse theories and perspectives to help consumer scholars understand how people think, make decisions, and consume when their resources are lacking in either objective or subjective

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Consumer wealth

Cited by 21 publications

References 115 publications

Scarcity Captures Attention and Induces Neglect: Eyetracking and Behavoral Evidence

Scarcity Captures Attention and Induces Neglect: Eyetracking and Behavoral Evidence

Science Mapping: A Bibliometric Analysis of Sustainability Among SMES

Rethinking scarcity and poverty: Building bridges for shared insight and impact

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