Economics at your fingertips  

Investing the self: The effect of nonconscious goals on investor psychological ownership and word-of-mouth intentions

Colleen P. Kirk, Bernard McSherry and Scott D. Swain

Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), 2015, vol. 58, issue C, 186-194

Abstract: This research examines the impact of nonconscious goal activation on investors’ feelings of psychological ownership of their investment choices. An initial experiment finds that psychological ownership is greater when an investment choice is incongruent with a nonconsciously-activated financial goal. Consistent with the notion that psychological ownership engenders self-enhancement motivation, ownership is also positively associated with word-of-mouth intentions. However, two additional experiments show that these effects are attenuated when an investor's decision process focuses on deciding in the “right way” (versus focusing on making the “best choice”). Findings across all studies support an integrative perspective on theories of psychological ownership and regulatory engagement: When individuals overcome personal resistance by choosing an option that is incongruent with a nonconscious goal, they experience greater feelings of engagement, which in turn lead to enhanced feelings of psychological ownership of the chosen option and greater word-of-mouth intentions.

Keywords: Psychological ownership; Nonconscious goals; Regulatory engagement; Word-of-mouth; Risk; Investor (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations View citations in EconPapers (1) Track citations by RSS feed

Downloads: (external link)
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Access Statistics for this article

Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics) is currently edited by Ofer Azar

More articles in Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics) from Elsevier
Series data maintained by Dana Niculescu ().

Page updated 2017-09-29
Handle: RePEc:eee:soceco:v:58:y:2015:i:c:p:186-194