“35 Pearls for a T-Shirt?”: How a Virtual Currency’s Dissimilarity to Money Decreases Purchase Intentions
Type
conference paper
Date Issued
2022-12-06
Author(s)
Abstract
Money is much more than dollars, pounds or yen. The digitization of money has led to the emergence of numerous virtual currencies. Countless virtual currencies have emerged through the digitization of money. Billions of U.S. dollars are exchanged using such virtual currencies every year. Still, most pricing-related marketing research focuses on payments using official currencies. In our article, we build upon payment-mechanism and processing fluency research to predict consumers’ purchase intentions with virtual currencies. Study 1 addresses how perceived money similarity can be predicted by semantic similarity measurements. In Studies 2 and 3, we replicate real-world purchase scenarios to show how a virtual currency’s dissimilarity to money decreases purchase intentions through both the increase of processing fluency and the increase of pain of payment. Managerial as well as theoretical implications are discussed.
Language
English
HSG Classification
contribution to scientific community
Event Title
The 2022 International Conference on Crypto-Marketing
Event Location
Columbia Business School, New York
Event Date
05.12.2022 - 06.12.2022
Subject(s)
Division(s)
Eprints ID
268397
File(s)![Thumbnail Image]()
Name
Crypto-Marketing_Agenda_as_of_2022_11-29.pdf
Size
453.24 KB
Format
Adobe PDF
Checksum (MD5)
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