Abstract
In the wake of a post-pandemic loneliness epidemic, consumer behaviour has shifted toward prioritising shared experiences in spite of increasing financial constraints. While prior studies have separately examined the effects of monetary transactions in gifting and financial management within monogamous relationships, the nuanced role and effect of payment dynamics in these shared experiences remains unclear.
Across a series of experimental studies, we investigate how different payment arrangements (split arrangements vs. consumer vs. other consumer pay the full amount) affect consumer happiness within shared experiences. We find that when consumers are with close social ties, they derive more happiness from paying themselves in full (vs. split or other consumers) for the shared experience. Conversely, in the absence of social connectedness (i.e., with a weak social ties) consumers are happier when they are able to conserve monetary resources (i.e., split or other consumer pays). These patterns are consistent regardless of the value of the experience admission, within ecologically valid parameters, for close social ties, but when the value of the admission increases consumers are even happier when conversing financial resources among weak social ties. Findings suggest that there is a complex relationship between payment dynamics and happiness in shared consumption experiences that is dependent on the social ties and contributes to a deeper understanding of consumer well-being in experiential contexts.
Across a series of experimental studies, we investigate how different payment arrangements (split arrangements vs. consumer vs. other consumer pay the full amount) affect consumer happiness within shared experiences. We find that when consumers are with close social ties, they derive more happiness from paying themselves in full (vs. split or other consumers) for the shared experience. Conversely, in the absence of social connectedness (i.e., with a weak social ties) consumers are happier when they are able to conserve monetary resources (i.e., split or other consumer pays). These patterns are consistent regardless of the value of the experience admission, within ecologically valid parameters, for close social ties, but when the value of the admission increases consumers are even happier when conversing financial resources among weak social ties. Findings suggest that there is a complex relationship between payment dynamics and happiness in shared consumption experiences that is dependent on the social ties and contributes to a deeper understanding of consumer well-being in experiential contexts.
Original language | English |
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Publication status | Published - 2024 |
Event | ISMS Marketing Science Institute Conference - International Convention Centre, Darling Harbour Sydney, Australia (Hosted by The University of New South Wales), Sydney, Australia Duration: 27 Jun 2024 → 29 Jun 2024 https://www.unsw.edu.au/business/our-schools/marketing/news-events/isms-marketing-science-conference-2024 (Conference website ) |
Conference
Conference | ISMS Marketing Science Institute Conference |
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Country/Territory | Australia |
City | Sydney |
Period | 27/06/24 → 29/06/24 |
Other | The INFORMS Society for Marketing Science (ISMS) Marketing Science Conference is an annual event that brings together leading marketing scholars, practitioners, and policymakers with a shared interest in rigorous scientific research on marketing problems. The 46th ISMS Marketing Science Conference will be hosted by the University of New South Wales (UNSW) in Sydney from June 27-29 (Thursday-Saturday), 2024. |
Internet address |