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The Effects of Money and Accountability on Consumer Choices -Focusing on Compromise and Attraction Effects

Abstract

This study deals with the issues of how money reminders would influence choice results and of whether the effect might be diluted in accountability or justifiability contexts. In particular, we focus on compromise and attraction effects due to a compromise alternative and an asymmetrically dominating alternative, respectively. The results show that the money prime decreases the compromise effect but enhances the attraction effect. We infer that these results occur in high level construals induced by money-related thoughts. Further, we find that the effects of the money prime are diluted in the accountability condition in which social factors are more important. We discuss both theoretical and practical implications of the results.

keywords
money reminder, money prime, compromise effect, attraction effect, compromise alternative, asymmetrically dominating alternative, accountability, justifiability

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