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Related Experiment Videos

Conceptual consumption.

Dan Ariely1, Michael I Norton

  • 1Duke University, Durham, North Carolina 27708, USA. dandan@duke.edu

Annual Review of Psychology
|September 4, 2008
PubMed
Summary
This summary is machine-generated.

Humans increasingly consume concepts, not just physical goods. Understanding this "conceptual consumption" is key to grasping modern consumer behavior and welfare.

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Area of Science:

  • Consumer Psychology
  • Behavioral Economics

Background:

  • Technological advancements have shifted human consumption from basic needs to psychological pursuits.
  • Modern consumption increasingly involves engaging with abstract concepts rather than solely material goods.

Purpose of the Study:

  • To introduce and define "conceptual consumption" as a critical lens for understanding human behavior.
  • To explore the impact of conceptual consumption on physical consumption patterns.
  • To examine the role of conceptual consumption in preference formation and virtual consumption.

Main Methods:

  • Literature review of psychological and economic research on consumption.
  • Analysis of how conceptual consumption (expectancies, goals, fluency, regulatory fit) influences physical consumption.

Related Experiment Videos

  • Benchmarking conceptual consumption against physical consumption, including instances where physical consumption is forgone or negatively chosen.

    • Main Results:

    • Conceptual consumption significantly impacts physical consumption patterns.
    • Individuals may prioritize conceptual consumption over positive physical consumption, or even choose negative physical consumption to engage in conceptual consumption.
    • Conceptual consumption influences preference formation and virtual consumption behaviors.

    Conclusions:

    • Conceptual consumption is essential for a comprehensive understanding of modern human consumption.
    • This framework offers insights into preference development and virtual consumption.
    • Conceptual consumption can be leveraged to improve consumer welfare initiatives.