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Forschung

Affective Forecasting in the Consumer Context

Affective Forecasting in the Consumer Context

Economic Psychology

In our Economic Psychology Group at the University of Cologne, we aim to continuously create and communicate knowledge on the psychology of economic decisions. We aspire to understand how people manage money and other scarce resources. Our research focus is on two main areas: Consuming and Financing.

 

Consuming encompasses the factors involved in acquiring and using goods or services. Exemplary topics in consumer psychology are purchasing decisions, product usage and disposal.


Self Concept: One strand of research in our group relates to the importance of consumers’ self-concept and identity on consumption choice. We study how consumers use consumption choice as self-expression, why consumers are interested in self-tracking devices, and how consumers experience customization of products.

Ethical Consumption: Another strand of our research relates to ethical consumption. We study the interplay between social, moral and financial aspects in purchasing Fair-trade products.

Product Disposal: We also investigate the way in which consumers perceive their unused possessions, and how they decide to donate those possessions to charity.

Researchers involved in this area: Michail Kokkoris, Christian Brünger, Atar Herziger, Erik Hoelzl

 

Publications related to this area (selected):

Kokkoris, M. D., & Kühnen, U. (2013). More than just an opinion: The effect of verbal self-expression on consumer choice. Psychology & Marketing, 30(12), 1062-1075.

Kokkoris, M. D., & Kühnen, U. (accepted). The need to have an opinion as a driver of consumer choice. Journal of Consumer Behaviour.

Pollai, M., Hoelzl, E. & Possas, F. (2010). Consumption-related emotions over time: Fit between prediction and experience. Marketing Letters, 21(4), 397–411. doi: 10.1007/s11002-009-9090-5

Susewind, M. & Hoelzl, E. (2014). A matter of perspective: why past moral behavior can sometimes encourage and other times discourage future moral striving. Journal of Applied Social Psychology, 44(3), 201-209. doi: 10.1111/jasp.12214

 

Financing relates to activities to acquire and use financial resources. Exemplary topics are money management, credit use, saving, investing, or taxpaying.


Consumer Credit: One strand of research in our group relates to consumer credit. We study borrowing and repayment of bank credits and in-store credits.

Crowdfunding: Another strand of study in our group is crowdfunding; in particular, we focus on modern mechanisms of lending-based crowdfunding.

Payment Methods: A third strand of research relates to payment methods. We study how consumers perceive cash, credit cards and mobile payments, and whether the use of specific payment methods influences spending and consumption experience.

Researchers involved in this area: Marc Heise, Jenny Maurer, Rufina Gafeeva, Erik Hoelzl

 

Publications related to this area (selected):

Hahn, L., Hoelzl, E. & Pollai, M. (2013). The effect of payment type on product-related emotions: Evidence from an experimental study. International Journal of Consumer Studies, 37(1), 21–28. doi: 10.1111/j.1470-6431.2011.01072.x

Hoelzl, E., Kamleitner, B. & Kirchler, E. (2011). Loan repayment plans as sequences of instalments. Journal of Economic Psychology, 32(4), 621–631. doi: 10.1016/j.joep.2011.02.002

Kamleitner, B., Hoelzl, E. & Kirchler, E. (2012). Credit use: Psychological perspectives on a multifaceted phenomenon. International Journal of Psychology, 47(1), 1–27. doi: 10.1080/00207594.2011.628674

Hoelzl, E., Pollai, M. & Kamleitner, B. (2009). Experience, prediction and recollection of loan burden. Journal of Economic Psychology, 30(3), 446–454. doi: 10.1016/j.joep.2008.11.001

 

DFG Research Unit "Psychoeconomics"

We are part of the DFG Research Unit "Psychoeconomics". For details please see https://www.zu.de/lehrstuehle/swp/dfg_psychoecon_index.php

Center for Social and Economic Behavior

We are part of the Excellence Center for Social and Economic Behavior at the University of Cologne (UoC). For details please see http://c-seb.uni-koeln.de/cseb.html

The Excellence Center for Social and Economic Behavior (C-SEB) at the University of Cologne (UoC) brings together researchers from economics, management science, and psychology to investigate the mechanisms that affect social and economic behavi

The Excellence Center for Social and Economic Behavior (C-SEB) at the University of Cologne (UoC) brings together researchers from economics, management science, and psychology to investigate the mechanisms that affect social and economic behavior.

The Excellence Center for Social and Economic Behavior (C-SEB) at the University of Cologne (UoC) brings together researchers from economics, management science, and psychology to investigate the mechanisms that affect social and economic behavior.

The Excellence Center for Social and Economic Behavior (C-SEB) at the University of Cologne (UoC) brings together researchers from economics, management science, and psychology to investigate the mechanisms that affect social and economic behavior.

Key Research Project Areas: Digital Transformation

We are participating in one of the key research project areas of the Faculty of Management, Economics and Social Sciences: Digital Transformation. For details please see http://www.wiso.uni-koeln.de/de/forschung/key-research-profile-areas/digital-transformation/

International Association for Research in Economic Psychology

We are members of the International Association for Research in Economic Psychology. For details please see www.iarep.org