%A LI Ai-Mei;HAO Mei;LI Li;LING Wen-Quan %T A New Perspective on Consumer Decision: Double-entry Mental Accounting Theory %0 Journal Article %D 2012 %J Advances in Psychological Science %R 10.3724/SP.J.1042.2012.01709 %P 1709-1717 %V 20 %N 11 %U {https://journal.psych.ac.cn/xlkxjz/CN/abstract/article_2733.shtml} %8 2012-11-15 %X Prelec and Loewenstein (1998) introduced a “double-entry” mental accounting theory, in which one set of entries recorded the “net” utility derived from consumption after subtracting the disutility of associated payments, and the other set recorded the "net" disutility of payments after subtracting the utility of associated consumption. The mental coupling of payment and consumption increased the pain of paying and reduced the pleasure of consumption, indicating a big coefficient of pleasure attenuation (a). While the mental decoupling of payment and consumption reduced the perceived cost of the activity and therefore boosted the likelihood of enjoying the consumption, indicating a big coefficient of pain buffering (b). Several findings are summarized: a small coefficient of pleasure attenuation (a) is perceived when consumption is after payment, while a small coefficient of pain buffering (b) is perceived when payment is after consumption. It is also found that luxury has a big coefficient of pleasure attenuation (a), while necessity has a big coefficient of pain buffering (b). The tightwad has a big coefficient of pleasure attenuation (a) and the spendthrift has a big coefficient of pain buffering (b). Additionally, the psychological mechanism of coupling, such as debt aversion and negative time preference, payment depreciation etc., and the advices to behavior decision are discussed. And meanwhile, new perspective and research subject on consumer behavior decision are proposed.