Eyes on the account size: Interactions between attention and budget in consumer choice

Dianna R. Amasino, Jack Dolgin and Scott A. Huettel

Journal of Economic Psychology, 2023, vol. 97, issue C

Abstract: The context surrounding a consumer decision, such as one’s overall budget available for purchases, can exert a strong effect on the subjective value of a product. Across three eye-tracking studies, we explore the attentional processes through which budget size influences consumers’ purchasing behavior. Higher budgets increased and sped up purchasing even when items were affordable at all budget sizes. Moreover, attention interacted with budget size to promote purchasing at higher budgets. Finally, individual differences in the magnitude of the budget effect related to attentional patterns: those whose decisions depended more on budget exhibited more budget-price transitions and less variability in search patterns compared to those whose decisions were less dependent on budget. These findings indicate that attention moderates the effect of budgets on purchasing decisions, allowing low budgets to serve as self-control devices and large budgets to generate impulse purchases.

Keywords: Budget; Eye tracking; Attention; Consumer choice (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:joepsy:v:97:y:2023:i:c:s0167487023000338

DOI: 10.1016/j.joep.2023.102632

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