Journal of Consumer Affairs

Publisher:: Wiley
Publication date:: 2021-02-01

ISBN:: 0022-0078

Issue Number

No. 57-4, October 2023

Latest documents

Issue Information
Roger M. Swagler In Memoriam
Antecedents and outcome of mindful buying
Many scholars have examined how people implement principles of mindfulness in their day‐to‐day consumption activities. Because buying in most cases precedes consumption, the present research builds a model of antecedents of mindful buying. Based on multi‐theoretical perspectives, the model posits four key variables as antecedents of mindful buying: environmental activism (self‐concept theory and collective interest model), duration of concern about the environment (life course perspective), and media and personal sources as socialization agents. The model proposes that these antecedent variables would have direct effects on mindful buying as well as indirect effect through attitudes toward the environment. The model also posits positive health outcomes of mindful buying. Using a demographically diverse sample (N = 629, females = 51.7%), regression models were used to test for direct and indirect effects of antecedent variables on mindful buying. Findings of these analyzes find support for the model. Implications for theory development, public policy and practice are also discussed.
“If I don't have credit, I don't have anything”: Perspectives on the credit scoring system among mothers with low incomes
This mixed‐methods study examines consumer perspectives on the credit scoring system drawn from in‐depth interviews with 72 mothers with low incomes and national survey data from the National Financial Capability Study. Interviewees express strong awareness of credit scoring and a desire to have good credit. National survey data corroborate these findings, showing that most mothers with low incomes are knowledgeable about their credit scores. They know what behaviors improve credit standing and recognize the tradeoffs between present consumption and longer run goals. They do not reject the credit scoring system's legitimacy and seek to work within this system to pursue their financial goals, despite obstacles to success. This evidence enriches our understanding of the perspectives and values that motivate consumer financial behaviors and highlights the systemic challenges to people's financial well‐being that are embedded in a seemingly widely accepted credit scoring system.
What do we really know about “don't know”? Re‐assessing the measurement of financial knowledge
Survey protocols measuring financial knowledge typically offer a don't know (DK) response option along with factual statements about personal finance. The potential problem of this practice is that a DK response could capture something other than financial knowledge and mislead empirical research on the association between financial knowledge and behavioral outcomes. In this study, we examined whether the current scales are contaminated by systemic personality effects and how reduced validity influences analytical modeling of the knowledge effect. Two studies with different national datasets were conducted in this investigation. Study 1 found that personality types and emotions are partially correlated with the propensity to give a DK response. Study 2 showed that controlling for DK response options alters the association between financial knowledge and behaviors in regression analyses. Our findings suggest that a DK response reduces construct validity of the financial knowledge score.
Financial literacy among autistic adults
Financial literacy is highly correlated to long‐term positive economic outcomes. Research examining the financial literacy of autistic adults is virtually nonexistent which is concerning given the implications of financial decision‐making for quality of life. This study assessed conceptual understanding and financial behaviors of autistic adults compared with a matched group of nonautistic adults. An online questionnaire assessed income, use of financial tools, feelings toward finances, use of financial literacy programs, financial knowledge, and preference for receiving financial education. The findings indicated that autistic adults showed lower financial literacy and greater uncertainty around many financial issues. They were less confident in their financial knowledge and ability to deal with daily financial matters. The autistic group showed less liking for some specific learning tools for receiving financial education. Our findings inform efforts to design specific curricula to improve the financial knowledge and understanding of autistic and other neurodiverse populations.
The role of racial/ethnic discrimination in financial access and material hardship: Findings from Korean immigrants living in the deep south
This study examines how racial/ethnic discrimination influences financial access and material hardship, using survey data collected from self‐identified Korean immigrants living in two counties in Alabama (N = 241). Key variables are experiencing racial/ethnic discrimination, two subjective measures of financial access, and four indicators of material hardship (overall, food‐related, health insurance, and medical care). Descriptive analyses show a high rate of experiencing racial/ethnic discrimination, limited access to basic financial services and credit, and considerable rates of material hardship. Regression analyses indicate that experiencing discrimination has a significant association with access to credit but not with access to basic financial services. Access to credit has a significant and negative association with all types of material hardship. Our findings challenge the model minority myth of socially and economically integrated Asian/Korean immigrants. Results call for anti‐discrimination policies and public efforts to expand financial access and reduce material hardship among Korean immigrants.
Financial debts and subjective well‐being of young adults: An adaption of the stress process model
Using a stress process theoretical framework, this article examines the relationship between financial debts and the subjective well‐being of young adults and the role of social and personal resources in the mechanism. The analyses include 2348 young adults from the 2017 Transition into Adulthood Supplement study of Panel Study of Income Dynamics, using the structural equation modeling method. We found that when faced with student loans as a stress exposure, young adults' social resources (financial support and social participation) and personal psychological resources (self‐esteem) may act in different ways explaining life satisfaction and subjective well‐being. Having student loans increased the likelihood of receiving financial support from family and social activity participation, while also boosting one's self‐esteem. However, financial support as a social resource was negatively associated with young adults' life satisfaction and subjective well‐being, whereas self‐esteem as a personal resource was positively associated with life satisfaction and subjective well‐being. Our study suggests that exploring the underlying mechanism of the association between debts and subjective well‐being is necessary and crucial because the mediating roles of social and personal resources were important in determining young adults' subjective well‐being. Further research should explore this topic, as recent young adults are more exposed to debt burdens than preceding cohorts.
Reexamining health messages in the political age: The politicization of the COVID‐19 pandemic and its detrimental effects on vaccine hesitancy
Our work investigates the extent to which the politicization of health science may have impacted consumers' vaccine hesitancy during the COVID‐19 pandemic. This inter‐disciplinary, multi‐method manuscript reports the results of three empirical investigations designed to examine how the consumers' political leanings and the sources they rely on for information might influence their decisions to receive a COVID‐19 vaccine. We explore how radically opposing viewpoints regarding the pandemic may have eroded public trust in government institutions and health science during the months leading up to the 2020 U.S. presidential election. In addition, we examine how consumers with opposing political leanings may be differentially influenced by promotional messages that represent the two dominant contrasting viewpoints regarding the COVID‐19 pandemic. Importantly, we find that low vaccine‐hesitant Trump voters can be successfully targeted for pro‐vaccination interventions using highly credible spokespeople, perceived to have high levels of expertise and trustworthiness.
A systematic review of consumer empowerment research trends: Evidence from esteemed consumer studies journals
Research on consumer empowerment has evolved to reflect its requirements over time. This study aimed to trace consumer empowerment research trends through a systematic review of 245 abstracts from two esteemed journals in the field of consumer studies, namely, International Journal of Consumer Studies and Journal of Consumer Affairs. Reference network analysis revealed that research on consumer empowerment has been mainly focused on finance and education. Topic modeling revealed the following six topics: financial literacy education, school education, information competency, dietary behavior/nutrition, financial management competency, and empowerment in the market. Hot topics included financial literacy education and dietary behavior/nutrition, whereas school education was a cold topic. This study provides insights into consumer empowerment research trends and directions for future research.