Hope's impact on consumer choices

Abstract

This dissertation explores the conceptulization of hope, and its dark side in inducing sub-optimal consumers decisions. While hope is ubiquitous in daily life, influencing decisions from weather expectations to academic aspirations, its specific impact on consumption has been less studied, especially outside life-threatening contexts. This research addresses the gap by examining hope's influence across several dimensions: its definition, effects on financial decisions, consumer purchasing behaviors, and the pursuit of questionable remedies. The study is structured into four essays. The first essay establishes a working definition of hope through a prototype analysis, identifying key features like "desire" and "possibility". The second essay investigates how hope affects financial decisions, particularly how it leads investors to hold losing stocks, contributing to the literature of the disposition effect. The third essay explores consumption behavior related to the purpose of evoking hope, with preferences varying across cultures. The final essay examines how hope drives consumers towards products with unproven effectiveness, highlighting how hope can bias information processing. Overall, the dissertation sheds light on the complex influence of hope on consumer behavior, offering insights into both its positive aspects and potential pitfalls. This deeper understanding can inform strategies to mitigate negative impacts while harnessing hope's motivational power.

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