Beware credit card euphoria (subscriber link)
Similar information here: http://creditcardfocus.info/using-a-credit-card-induces-euphoria-new-research-shows/
A new study in the Journal of Consumer Research shows that using a credit card induces euphoria.
Like a starry-eyed new lover who ignores the downsides of an obviously incompatible but very attractive partner, consumers who swipe plastic when they buy are often blinded to the true costs of their purchases. They even tend to exaggerate the perceived benefits of whatever they’re buying, according to research by Promothesh Chatterjee of the University of Kansas and Randall L. Rose or University of South Carolina.
This research actually goes well beyond what we’ve known previously about the impact of credit card use on consumer behavior. The old information — that consumers tend to spend 15%-30% more when paying with plastic — was bad enough. It turns out that our actual perceptions of products is different when we’re paying with a credit card. Sounds crazy, but here’s the research.
Researchers primed subjects using traditional behavioral study methods, such as making them play words games which focused their attention either on credit cards or on cash. Then they gave the consumers information on items they could theoretically buy, such as a notebook computer or an iPhone. Repeatedly, consumers “primed” to think about credit cards had a harder time recalling products’ price or other downsides.
“Our findings suggest that marketers may be affecting not just the amount of money consumers are willing to spend but also the nature of the goods and services that find their way into consumers’ market baskets,” the report says.
Stop when the story is over. The MC has a foul mouth and small vocabulary.
Schrodinger’s cat (via facebook)
Symphonic music played on wine glasses.
(I don’t kjnow who this is, but I liked the advice)
Principle #1: Avoid dangerous people and dangerous places.
Principle #2: Do not defend your property.
Principle #3: Respond immediately and escape.
Spend on the things you do every day.
Buy for what you do, not for what you wish you did.
A new JAMA study finds a strong correlation: the third of folks who eat the least salt die over three times as often as the third of folks who eat the most salt.