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Advances in Psychological Science    2014, Vol. 22 Issue (4) : 596-605     DOI: 10.3724/SP.J.1042.2014.00596
Research Reports |
Irrational Consumption Bias of Windfall Gains and Hard-earned Money: Based on IAT and Evidence from an ERP Study
PAN Xiaofu;WANG Zhaojing;GAO Fei;XU Ying
School of Cultural & Social Development Studies, Southwest University, Chongqing 400715, China
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Abstract  

Because of their different weight in people's mind, various sources of wealth can lead to diverse attitudes and ways of consumption. By carrying out a series of experiments, predecessors have found out that windfall gains are spent more readily than hard-earned money. Base on the theory of implicit social cognition and mental account, use the implicit association test (IAT) and ERP technology to explore the difference made on people's mind by windfall gains and hard-earned gains, thus give an indirect test for its implicit attitudes and brain processing mechanism. The IAT result shows that windfall gains is more closely connected with easy consumption, while hard-earned money is more closely connected with the difficult consumption, which verifies the predecessors' conclusion in the implicit level; The ERP technology also found hard-earned money and windfall gains may base on different brain processing mechanism, and reflected in P3 and LPC composition, P3 could be the direct ERP’ components which reflects the hard-income group’s preference to consumer consumption patterns, while LPC components reflects people’s preference to consumption under an accidental income condition.

Keywords windfall gains      hard-earned money      implicit association test (IAT)      irrational consumption      mental accounting      Brain processing mechanism     
Corresponding Authors: PAN Xiaofu   
Issue Date: 15 April 2014
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PAN Xiaofu
WANG Zhaojing
GAO Fei
XU Ying
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PAN Xiaofu,WANG Zhaojing,GAO Fei, et al. Irrational Consumption Bias of Windfall Gains and Hard-earned Money: Based on IAT and Evidence from an ERP Study[J]. Advances in Psychological Science, 2014, 22(4): 596-605.
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http://journal.psych.ac.cn/xlkxjz/EN/10.3724/SP.J.1042.2014.00596     OR     http://journal.psych.ac.cn/xlkxjz/EN/Y2014/V22/I4/596
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