Hostname: page-component-8448b6f56d-gtxcr Total loading time: 0 Render date: 2024-04-19T02:10:34.968Z Has data issue: false hasContentIssue false
  • English
  • Français

Suppression, resolve, and habit in everyday financial behaviour

Published online by Cambridge University Press:  26 April 2021

Stephen E. G. Lea Open the ORCID record for Stephen E. G. Lea [Opens in a new window]
Stephen E. G. Lea*
Affiliation:
Department of Psychology, Washington Singer Laboratories, University of Exeter, ExeterEX4 4QG, UK. s.e.g.lea@exeter.ac.uk
Get access Rights & Permissions [Opens in a new window]

Abstract

Everyday financial behaviour involves inter-temporal choices, between saving, spending, and debt. Consumers do not always take these decisions to their best advantage. Ainslie's analysis of the means to willpower as suppression, resolve, and habit is potentially applicable to understanding and improving the decisions that consumers make. Some relevant research on these topics exists, and it is briefly reviewed here.

Type
Open Peer Commentary
Information
Behavioral and Brain Sciences , Volume 44 , 2021 , e45
Check for updates
Creative Commons
The target article and response article are works of the U.S. Government and are not subject to copyright protection in the United States.
Copyright
Copyright © The Author(s), 2021. Published by Cambridge University Press

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Ainslie, G (1974). Impulse control in pigeons. Journal of the Experimental Analysis of Behavior, 21(3), 485–489. doi:10.1901/jeab.1974.21-485.CrossRefGoogle ScholarPubMed
Ainslie, G (1975). Specious reward: A behavioral theory of impulsiveness and impulse control. Psychological Bulletin, 82(4), 463–496. doi:10.1037/h0076860.CrossRefGoogle ScholarPubMed
Ejlerskov, K. T., Sharp, S. J., Stead, M., Adamson, A. J., White, M., & Adams, J. (2018). Supermarket policies on less-healthy food at checkouts: Natural experimental evaluation using interrupted time series analyses of purchases. PLoS Medicine, 15, e1002712. doi: 10.1371/journal.pmed.1002712.CrossRefGoogle ScholarPubMed
French, D., & McKillop, D. (2016). Financial literacy and over-indebtedness in low-income households. International Review of Financial Analysis, 48, 1–11. doi: 10.1016/j.irfa.2016.08.004.CrossRefGoogle Scholar
Friedline, T., & Song, H. A. (2013). Accumulating assets, debts in young adulthood: Children as potential future investors. Children and Youth Services Review, 35, 1486–1502. doi: 10.1016/j.childyouth.2013.05.013.CrossRefGoogle Scholar
George, E. E., Hansen, M. E., & Routzahn, J. L. (2018). Debt tolerance, gender, and the Great Recession. Journal of Consumer Affairs, 52, 711–732. doi: 10.1111/joca.12184.CrossRefGoogle Scholar
Katona, G. (1975). Psychological economics. New York: Elsevier.Google Scholar
Lea, S. E. G. (2021). Debt and over-indebtedness: Psychological evidence and its policy implications. Social Issues and Policy Review, 15, 146–179. doi: 10.1111/sipr.12074.CrossRefGoogle Scholar
Lea, S. E. G., Webley, P., & Bellamy, G. (2001). Student debt: Expecting it, spending it and regretting it. In Scott, A. J., Lewis, A. & Lea, S. E. G. (Eds.), Student debt (pp. 37–47). Bristol: Policy Press.Google Scholar
Paynter, J., & Edwards, R. (2009). The impact of tobacco promotion at the point of sale: A systematic review. Nicotine & Tobacco Research, 11, 25–35. doi: 10.1093/ntr/ntn002.CrossRefGoogle ScholarPubMed
Shah, A. K., Mullainathan, S., & Shafir, E. (2012). Some consequences of having too little. Science (New York, N.Y.), 338, 682–685. doi: 10.1126/science.1222426.CrossRefGoogle ScholarPubMed
Speck, P. S., & Elliott, M. T. (1997). Predictors of advertising avoidance in print and broadcast media. Journal of Advertising, 26, 61–76. doi: 10.1080/00913367.1997.10673529.CrossRefGoogle Scholar
Sussman, A. B., & O'Brien, R. L. (2016). Knowing when to spend: Unintended financial consequences of earmarking to encourage savings. Journal of Marketing Research, 53, 790–803. doi: 10.1509/jmr.14.0455.CrossRefGoogle Scholar
Thaler, R. H., & Benartzi, S. (2004). Save more tomorrow (TM): Using behavioral economics to increase employee saving. Journal of Political Economy, 112, S164–S187. doi: 10.1086/380085.CrossRefGoogle Scholar
Tudoran, A. A. (2019). Why do internet consumers block ads? New evidence from consumer opinion mining and sentiment analysis. Internet Research, 29, 144–166. doi: 10.1108/IntR-06-2017-0221.CrossRefGoogle Scholar
Van der Weiden, A., Benjamins, J., Gillebaart, M., Ybema, J. F., & de Ridder, D. (2020). How to form good habits? A longitudinal field study on the role of self-control in habit formation. Frontiers in Psychology, 11, 560. doi: 10.3389/fpsyg.2020.00560.CrossRefGoogle Scholar
Walker, C., Burton, M., Akhurst, J., & Degirmencioglu, S. M. (2015). Locked into the system? Critical community psychology approaches to personal debt in the context of crises of capital accumulation. Journal of Community & Applied Social Psychology, 25, 264–275. doi: 10.1002/casp.2209.CrossRefGoogle Scholar
Woolley, K., & Fishbach, A. (2017). Immediate rewards predict adherence to long-term goals. Personality and Social Psychology Bulletin, 43, 151–162. doi: 10.1177/0146167216676480.CrossRefGoogle ScholarPubMed