Inefficient Clauses or Consumer Choices: Lessons from Behavioral Law and Economics

Mental Accounting in Consumer Decision Making (Accountants and Non-Accountants) Related to Discount Coupons

“…(1) Sending a website link (www.excited-stores.blogspot.com) to respondents who agree along with the application for a willingness to participate in the simulation survey and instruction needs to be performed, (2) Respondents who are willing to participate then fill the Discount Form located on the right of the website to get automated email reply stating that the respondents have got a discount of 100,000, that is valid for 48 hours, (3) Respondents who want to get a discount can immediately fill the Order Form of which the link is given along with the automated email reply stating that the respondents have got a discount of 100,000 above, that is valid for 48 hours, (4) The Discount Form and Order Form will be automatically recorded in Google Docs, (5) The amount of money spent by consumers, discount coupons used, and accountants and non-accountants data can be directly processed for further analyzing. Based on the simulation survey, there was 112 respondents from 150 participation requests (response rate 74,67%), participated by using the discount coupon to spend more, which 58 respondents were accountants and 54 respondents are non-accountants.…”

“…Therefore, accountants and prospective accountants can be more mentally accounting compared to nonaccountants (Fennema and Perkins, 2008). They concern about profit versus loss more (Thaler, 1980(Thaler, , 1985Prelec and Loewenstein, 1998), more conservative in situations that can result in a loss (Thaler, 1980), accustomed to classify the finance income and expenditure into certain accounts (Arkes, et al, 1994;Milkman and Beshears, 2009), accustomed to create budget and financial statements (Fennema and Perkins, 2008;Baffi, 2012), and others, therefore, decision-making, especially related to finance could be different between accountants and nonaccountants.…”