Arbeitspapier
When being wasteful appears better than feeling wasteful
'Waste not want not' expresses our culture's aversion to waste. 'I could have gotten the same thing for less' is a sentiment that can diminish pleasure in a transaction. We study people's willingness to 'pay' to avoid this spoiler. In one scenario, participants imagined they were looking for a rental apartment, and had bought a subscription to an apartment listing. If a cheaper subscription had been declined, respondents preferred not to discover post hoc that it would have sufficed. Specifically, they preferred ending their quest for the ideal apartment after seeing more, rather than fewer, apartments, so that the length of the search exceeds that available within the cheaper subscription. Other scenarios produced similar results. We conclude that people may sometimes prefer to be wasteful in order to avoid feeling wasteful.
- Language
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Englisch
- Bibliographic citation
-
Series: Jena Economic Research Papers ; No. 2011,002
- Classification
-
Wirtschaft
Marketing
- Subject
-
waste aversion
mental accounting
violation of dominance
counterfactual
regret
Konsumentenverhalten
Emotion
Verhaltensökonomik
Wohnungswechsel
Informationskosten
Willingness to pay
- Event
-
Geistige Schöpfung
- (who)
-
Zultan, Ro'i
Bar-Hillel, Maya
Guy, Nitsan
- Event
-
Veröffentlichung
- (who)
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Friedrich Schiller University Jena and Max Planck Institute of Economics
- (where)
-
Jena
- (when)
-
2010
- Handle
- Last update
-
10.03.2025, 11:44 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Zultan, Ro'i
- Bar-Hillel, Maya
- Guy, Nitsan
- Friedrich Schiller University Jena and Max Planck Institute of Economics
Time of origin
- 2010
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