SSE/EFI Working Paper Series in Business Administration,
Stockholm School of Economics

Abstract: This paper was motivated by a paucity of research addressing how consumer decision-making is related to beliefs about money and different modes of reasoning. To investigate this issue, data were collected from 142 participants, who filled out questionnaires involving scales aimed to measure affective and rational purchase approaches, intuitive and analytical decision-making styles, as well as money attitudes. One finding was that consumers interchangeably rely on affective and rational approaches when interacting with the marketplace. Another finding was that those approaches were not only related to either intuitive or analytical decision-making styles but also to money attitudes. The findings are argued to provide an impetus to continuous investigation of the role of decision-making styles and money beliefs for consumer choice modes.

Keywords: affect; attitudes to money; consumer choice; decision-making; intuition; shopping orientation; reasoning

16 pages, January 3, 2006

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