AGING OF MONETARY SAVING PROPOSITION FORMULATED FROM THE FIRST- AND THE THIRD-PERSON PERSPECTIVES AS A FACTOR MODULATING THE FRAMING EFFECT

Abstract

The article uncovers the role of aging of monetary saving proposition in its topical mental accounting.The monetary saving propositions were formulated from the first-and the third-person perspective to investigate whether a self-other discrepancy impacts on an aging of saving proposition.Also, the absolute and relative amount of monetary saving was varied in two stages (high vs. low), and two dates of the beginning of a sell-out were applied (past and present).The discrepancy between aging of propositions formulated from the first and the third person perspectives appears to have a different impact on the high and low relative monetary savings, which seems to be almost opposite.A high relative saving proposition ages quicker than a low relative one, but only when it is formulated from the first person perspective.When a saving proposition is formulated from a third-person perspective, aging runs quicker for low relative saving, and a high relative saving proposition seems to age slower.Correspondingly, the framing effect is modulated by two factors: 1) aging of monetary saving proposition and 2) personal perspective in formulation of saving proposition.

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