The Dynamics of Payment and Pleasure: Monetary and Social Interactions in Shared Consumption Experiences

Belinda L. Barton, Aimee Smith*, Natalina Zlatevska

*Corresponding author for this work

Research output: Contribution to conferenceAbstractResearchpeer-review

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.
Original languageEnglish
Publication statusPublished - 2024
EventISMS Marketing Science Institute Conference - International Convention Centre, Darling Harbour Sydney, Australia (Hosted by The University of New South Wales), Sydney, Australia
Duration: 27 Jun 202429 Jun 2024
https://www.unsw.edu.au/business/our-schools/marketing/news-events/isms-marketing-science-conference-2024 (Conference website )

Conference

ConferenceISMS Marketing Science Institute Conference
Country/TerritoryAustralia
CitySydney
Period27/06/2429/06/24
OtherThe 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.
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