TREATING YOURSELF WITH CASH
By Staff Reporters
http://www.MarcinkoAssociates.com
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Folks are more likely to reach for dollar bills than credit cards when making a guilty pleasure purchase, according to new Stanford research.
MORE: https://medicalexecutivepost.com/2022/06/22/behavioral-finance-for-doctors/
In more than 118,000 real transactions at the university bookstore, buyers tended to slap their plastic on the counter for school supplies but pay with cash for “harder-to-justify” items like a stuffed plush mascot. And when asked how they’d pay for a hypothetical Reiki session, participants leaned toward credit card when the treatment was described as doctor-recommended but toward cash when they were told it was just an impulse purchase.
RELATED: https://medicalexecutivepost.com/2023/02/28/dr-richard-h-thaler-and-behavioral-economics/
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