Medindia

X

People Shell Out More Money While Experiencing 'Nostalgia'

by Bidita Debnath on  July 23, 2014 at 11:47 PM Research News   - G J E 4
People tend to shell out more money when they think about their past, reveals a new study.
 People Shell Out More Money While Experiencing 'Nostalgia'
People Shell Out More Money While Experiencing 'Nostalgia'
Advertisement

Authors, Jannine D. Lasaleta from Grenoble Ecole de Management), Constantine Sedikides from the University of Southampton, and Kathleen D. Vohs from University of Minnesota, conducted six experiments that looked at how much people were willing to spend, donate, and value money when feeling a sense of nostalgia-evoked social connectedness.

Advertisement
In one study, the consumers who were asked to think about the past were willing to pay more for a set of products than consumers who were told to think about new or future memories. Another study showed an increased willingness to give more money to others after recalling, reflecting, or writing about a nostalgic past life event. Additionally, people who were asked to think about a nostalgic event were less willing to endure unpleasant sounds in exchange for a set amount of money, than consumers who were asked to think about an ordinary event.

The authors noted that during times of recession consumers are more reluctant to part with their money and added that nostalgia could be used to help stimulate a dwindling economy.

They concluded that when people have higher levels of social connectedness and when they feel that their wants and needs can be achieved through the help of others, their ability to prioritize and keep control over their money becomes less pressing.

The study is published in the Journal of Consumer Research.

Source: ANI
Advertisement

Post your Comments

Comments should be on the topic and should not be abusive. The editorial team reserves the right to review and moderate the comments posted on the site.
User Avatar
* Your comment can be maximum of 2500 characters
Notify me when reply is posted I agree to the terms and conditions

You May Also Like

Advertisement
View All