Journal of Consumer Affairs最新文献

In this panel discussion, we explore various ways that academics can advance work related to GenderS, intersectionality and inequities so that it has impact within academia and in society. Panelists offer practical insights, relate challenges in doing this work, and suggest avenues for alternative yet impactful dissemination of work. The purpose is to demonstrate how those interested in supporting or working in this space might move from being allies to advocates and accomplices.

We investigate whether targeting algorithms can improve the effectiveness of financial education programs by identifying ex-ante the most appropriate recipients. To this end, we use micro-data from around 3800 individuals who participated in a financial education campaign conducted in Italy in late 2021. First, we employ machine learning (ML) tools to devise a targeting rule that identifies individuals who should be primarily targeted by a financial education campaign based on easily observable characteristics. Second, we simulate a policy scenario, using a random sample of individuals who took part in the campaign but were not employed to devise the targeting rule. We find that pairing a financial education campaign with an ML-based targeting rule leads to greater effectiveness. Finally, we discuss the policy implications of our findings, and the conditions that must be met for ML-based targeting to be effectively implemented.

Societal well-being requires immediate global action from individuals and governments to vote on and enact policies that slow down, stop, and reverse the effects of climate change. To pressure governments and motivate policymakers to act, individuals can engage in environmental activism; however, even if individuals consider the environment important, they often do not follow through with action. Using a unique, large-scale secondary data set from over 60,000 individuals in 48 countries, we examine the influence of social institutions on environmental activism among a nation's citizens. We find that religiosity inhibits environmental activism while education enables it. Confidence in the judiciary system also increases the likelihood that individuals act on their pro-environmental attitudes while confidence in the government weakens this relationship. We discuss implications for policymakers and community organizers looking to increase the well-being of their constituents.

In 2019, the Federal Deposit Insurance Corporation (FDIC) reported that 7.1 million households in the United States (5.4%) were unbanked and lacked a checking or savings account). Using three leading household surveys, this paper documents how the interaction between bank access and poverty has evolved over time. We present a historical time series of unbanked rates, showing high-unbanked rates for those in poverty even with increases in financial access over time. In the 1980s, 49.6% of households in poverty were unbanked while 22.8% were unbanked in 2019. Unbanked rates were even higher for Black and Hispanic households that were in poverty. In the 1980s, these groups had unbanked rates of 73.6% and 66.5% which declined to 38.4% and 31.8% in 2019, respectively. To explain differences in banking rates by race, we use binary Kitagawa-Oaxaca-Blinder decompositions. Socio-demographic characteristics explain less than half the difference in unbanked rates for Blacks and around half for Hispanics.

Financial access is used in practice and research as an important concept relevant to financial capability and financial well-being. This study examines the literature on individual financial access and develops a conceptualization, definition, domains, and proposed items. Following a systematic conceptual review method, the review is based on 171 articles published during January 2012–August 2022 retrieved from Scopus and Dissertation and Thesis Global. Using grounded theory, data were coded related to financial access definition, concepts, measurement, and associated content. The domains identified were Mainstream Financial Products and Services, Institutional Practices of Available Mainstream Financial Service Providers, Individual Resources and Intrinsic Qualities and Abilities, and Individual Financial Action and Perceptions. Financial Products or Services Utilized by Social Programs to Provide Benefits was added. Study implications include the need to broaden the focus of policies and practices beyond ownership of financial products and services. Directions for future research are discussed.

This panel discussion explores why marketing and consumer behavior has struggled to move beyond the binary, the importance of disrupting the conventional binaries to recognize gender/sex/ual diversity, and the challenges in so doing. It raises to the fore concerns about institutional pressures, sanitization of work, academic positionalities, everyday encounters of discrimination against gender/sex/ual diversity, and the emancipatory but oppressive dynamics of categories. Yet the panelists also reflect on ways to challenge binaristic thinking. Just being in the academy and doing (small but) meaningful acts of institutional activism can produce ripple effects and open pathways for a better articulation of lived experiences and realities.

This study explores the drivers and consequences of consumers' voluntary information disclosure in the context of online consumer financing. Using unique secondary data from a Chinese online consumer financing company, we uncover a non-linear relationship between borrowers' credit ratings and the quantity of voluntary information disclosure, and an inverted U-shaped relationship between the amount of information disclosure and loan default. Specifically, low-credit borrowers who opt for more voluntary information disclosure manifest a higher likelihood of default than those who disclose less, suggesting a strategic inclination toward information disclosure. Finally, we identify that disclosing high-cost information reduces loan default, whereas disclosing low-cost information increases default. Our findings enrich the existing literature on consumer information disclosure by providing insights into the underlying motivation and highlighting the applicability of signaling theory and privacy calculus theory. This has practical implications for lenders, borrowers, and regulators in overcoming barriers in online lending.

Unpredictable income poses a significant threat to economic stability for many U.S. households. While budgeting may help to mitigate some of the negative effects of unpredictable income, the process of budgeting can also be more challenging under such circumstances. This paper presents new descriptive evidence on the relationship between income predictability, financial wellbeing, and budgeting behavior using data from a nationally-representative survey of nearly 4000 U.S. adults. We document a strong negative relationship between income unpredictability and financial wellbeing. However, the strength of this negative relationship is substantially attenuated for those who budget. This suggests that budgeting may be a useful tool for mitigating the adverse effects of unpredictable income. Despite these benefits, the propensity to budget is significantly lower among those with the most unpredictable income. These findings indicate the need for policy reforms that insure households against unpredictable income in addition to efforts targeting individual-level financial management strategies.

Sunk cost bias is a pervasive issue in the real world, manifesting in various domains, such as consumption and investment, influencing consumer well-being. This bias often leads to a misallocation of resources towards less meaningful activities. In the current study, we explored a novel factor, specifically disease cues, that influences the sunk cost bias. Through a survey and four systematic experiments, using both lab and natural manipulations of disease cues, we demonstrate that disease cues encourage individuals to overvalue their prior investments, leading to an increased propensity for sunk cost bias in imagined decision scenarios and real choices. We have also ruled out alternative explanations for our findings. Significantly, we added a survey to directly explore the sunk cost bias and consumer subjective well-being, showing a significant positive relationship between them. Our research contributes to understanding consumer irrational behavior and aims to improve consumer well-being.