Universität zu Köln

Kamleitner, Bernadette ORCID: 0000-0002-7162-7287, Hoelzl, Erik ORCID: 0000-0002-5135-4728 and Kirchler, Erich (2010). Experiencing costs and benefits of a loan transaction The role of cost-benefit associations. J. Econ. Psychol., 31 (6). S. 1047 - 1057. AMSTERDAM: ELSEVIER. ISSN 1872-7719

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Abstract

Financial transactions involve costs and benefits This also holds for loan transactions where the loan Itself constitutes the main cost and the loan financed possession constitutes the main benefit This paper aims to investigate how the way consumers mentally associate cost and benefits influences their evaluation of these costs and benefits In line with previous research we distinguish between strength and direction (costs bring to mind benefits or vice versa) of cost-benefit associations We posit that the occurrence of cost-benefit associations constitutes a meta cognitive experience which may influence con sumer Judgments in different ways It may influence the evaluation of the base cognition and it may influence the evaluation of associated cognition Whereas existing theorizing points to an effect on the former an effect on the latter is equally conceivable A field study with actual credit users and an experiment identify relations other than those previously assumed If benefits elicit thoughts of costs the perceived cost (here loan burden) Increase If costs elicit thoughts of benefits no effects on the transaction experience are observed Implications for the theoretical analyses of cost-benefit associations and for future research aiming to alleviate perceived loan burden are derived (C) 2010 Elsevier B V All rights reserved

Item Type:	Journal Article
Creators:	Creators Email ORCID ORCID Put Code Kamleitner, Bernadette UNSPECIFIED orcid.org/0000-0002-7162-7287 UNSPECIFIED Hoelzl, Erik UNSPECIFIED orcid.org/0000-0002-5135-4728 UNSPECIFIED Kirchler, Erich UNSPECIFIED UNSPECIFIED UNSPECIFIED
URN:	urn:nbn:de:hbz:38-490950
DOI:	10.1016/j.joep.2010.09.005
Journal or Publication Title:	J. Econ. Psychol.
Volume:	31
Number:	6
Page Range:	S. 1047 - 1057
Date:	2010
Publisher:	ELSEVIER
Place of Publication:	AMSTERDAM
ISSN:	1872-7719
Language:	English
Faculty:	Faculty of Management, Economy and Social Sciences
Divisions:	Center of Excellence C-SEB
Subjects:	Economics
Uncontrolled Keywords:	Keywords Language METACOGNITIVE EXPERIENCES; DECISION; CONSUMPTION; INFORMATION; COGNITION; PRICE Multiple languages Economics; Psychology, Multidisciplinary Multiple languages
Refereed:	Yes
URI:	http://kups.ub.uni-koeln.de/id/eprint/49095