Retail Therapy

Procrastination

What's Your Hurry?

Scott Rick Ph.D. on May 20, 2014

Procrastination is widespread and costly. But new research suggests that the desire to complete unpleasant tasks can sometimes cause us to “pre-crastinate,” wasting effort by beginning tasks too soon.

Procrastination is widespread and costly. But new research suggests that the desire to complete unpleasant tasks can sometimes cause us to “pre-crastinate,” wasting effort by beginning tasks too soon.

Play

Family Feud Highlights Our Aversion to Idleness

Scott Rick Ph.D. on January 16, 2014

Idleness is distressing, and that can drive people to act when they should be passive. Family Feud illustrates this bias in nearly every episode.

Idleness is distressing, and that can drive people to act when they should be passive. Family Feud illustrates this bias in nearly every episode.

Relationships

I Love You. Here’s a $25 Olive Garden Gift Card.

Scott Rick Ph.D. on November 29, 2013

Soon, it seems, most gifts will be gift cards. Despite the fact that some gift cards are thoughtfully selected by givers who want to ensure that their recipient finds something they like, there are a number of reasons why gift card givers don’t get the credit they should.

Soon, it seems, most gifts will be gift cards. Despite the fact that some gift cards are thoughtfully selected by givers who want to ensure that their recipient finds something they like, there are a number of reasons why gift card givers don’t get the credit they should.

Personality

What Does It Mean to Be a Saver?

Scott Rick Ph.D. on November 16, 2013

We are often categorized (by ourselves, our friends, our spouses, or online quizzes) as “savers” or “spenders.” But is there widespread agreement about what these terms mean? In this post, I consider what it means to be a saver.

We are often categorized (by ourselves, our friends, our spouses, or online quizzes) as “savers” or “spenders.” But is there widespread agreement about what these terms mean? In this post, I consider what it means to be a saver.

Guilt

Don’t Forget the Milk (and the Charitable Donation)

Scott Rick Ph.D. on October 12, 2013

Grocery store cashiers sometimes ask customers if they’d like to make a small charitable donation. Customers who comply with such requests may feel licensed to misbehave elsewhere.

Grocery store cashiers sometimes ask customers if they’d like to make a small charitable donation. Customers who comply with such requests may feel licensed to misbehave elsewhere.

Infidelity

Salary Differences Between Employees Can Encourage Cheating

Scott Rick Ph.D. on September 3, 2013

Wage and salary differences within an organization are sometimes publicly known. How does this information influence the ethical behavior of employees?

Wage and salary differences within an organization are sometimes publicly known. How does this information influence the ethical behavior of employees?

Gender

The Psychology of Bidding on The Price is Right

Scott Rick Ph.D. on July 31, 2013

Making it onto stage on The Price is Right might require bidding strategies that are rational but feel mean. When do social preferences override the desire to win?

Making it onto stage on The Price is Right might require bidding strategies that are rational but feel mean. When do social preferences override the desire to win?

Behavioral Economics

Why We Overspend With Credit

Scott Rick Ph.D. on June 22, 2013

Using credit to make purchases causes many people to spend more than they would have if they had used cash. What emotional and cognitive forces contribute to this bias, and what can be done to curb it?

Using credit to make purchases causes many people to spend more than they would have if they had used cash. What emotional and cognitive forces contribute to this bias, and what can be done to curb it?

Marriage

Fatal (Fiscal) Attraction

Scott Rick Ph.D. on May 29, 2013

Typically, birds of a feather flock together. But when it comes to money, tightwads tend to marry spendthrifts. Is this good for marriages?

Typically, birds of a feather flock together. But when it comes to money, tightwads tend to marry spendthrifts. Is this good for marriages?

Motivation

(Debt) Snowball Fight

Scott Rick Ph.D. on April 22, 2013

How should people manage multiple debts? Basic economic principles (and credit scoring agencies) suggest repaying the debt with the highest interest rate first. However, some financial gurus and a number of psychological factors favor the debt snowball method (repaying small debts first to build momentum, regardless of interest rates). What’s the best approach?

How should people manage multiple debts? Basic economic principles (and credit scoring agencies) suggest repaying the debt with the highest interest rate first. However, some financial gurus and a number of psychological factors favor the debt snowball method (repaying small debts first to build momentum, regardless of interest rates). What’s the best approach?

Types of Therapy

In Defense of Retail Therapy

Scott Rick Ph.D. on March 29, 2013

Retail therapy gets a bad rap. There’s no question that repeatedly engaging in retail therapy is a recipe for debt and unhappiness. But every now and then, retail therapy may be effective. In particular, retail therapy may help to restore a sense of personal control and reduce sadness.

Retail therapy gets a bad rap. There’s no question that repeatedly engaging in retail therapy is a recipe for debt and unhappiness. But every now and then, retail therapy may be effective. In particular, retail therapy may help to restore a sense of personal control and reduce sadness.