The Psychology of Windfall Gains

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dc.contributor.author Arkes Hal R. , en_US
dc.contributor.author Joyner Cynthia A. , en_US
dc.contributor.author Pezzo Mark V. , en_US
dc.contributor.author Nash Jane Gradwohl, en_US
dc.contributor.author Siegel-Jacobs Karen, en_US
dc.contributor.author Stone Eric, en_US
dc.date.accessioned 2006-04-10T17:56:08Z
dc.date.available 2006-04-10T17:56:08Z
dc.date.issued 1994-09 en_US
dc.identifier.citation Arkes Hal R., , Joyner Cynthia A., , Pezzo Mark V., , Nash Jane Gradwohl, , Siegel-Jacobs Karen, , Stone Eric, (1994/09)."The Psychology of Windfall Gains." Organizational Behavior and Human Decision Processes 59(3): 331-347. <http://hdl.handle.net/2027.42/31364> en_US
dc.identifier.uri http://www.sciencedirect.com/science/article/B6WP2-45NJFFC-V/2/9a0059f8f6d6cde802d185d7cdd4499a en_US
dc.identifier.uri http://hdl.handle.net/2027.42/31364
dc.description.abstract We hypothesized that windfall gains are spent more readily than other types of assets. Three questionnaire studies supported this hypothesis and led us to the conclusion that the unanticipated nature of windfall gains is responsible for their heightened proclivity to be spent. We then tested this hypothesis in two studies using actual money. In both studies using money, one group of students was told 1 to 5 days before an experiment that they would be paid for their participation, whereas another group was told about the money only after they arrived at the experiment. In the first of the cash studies, those who were given no forewarning of the money bet significantly more during a gambling game than did those who anticipated the payment. In the second cash study, those who did not anticipate the money spent more money at a basketball game than did those who anticipated the money. We relate the results of these studies to economic theories and to theories of choice. en_US
dc.format.extent 845019 bytes
dc.format.extent 3118 bytes
dc.format.mimetype application/pdf
dc.format.mimetype text/plain
dc.language.iso en_US
dc.publisher Elsevier en_US
dc.title The Psychology of Windfall Gains en_US
dc.type Article en_US
dc.rights.robots IndexNoFollow en_US
dc.subject.hlbsecondlevel Psychology en_US
dc.subject.hlbtoplevel Social Sciences en_US
dc.description.peerreviewed Peer Reviewed en_US
dc.contributor.affiliationum Ohio University; Stonehill College; University of Michigan en_US
dc.contributor.affiliationum Ohio University; Stonehill College; University of Michigan en_US
dc.contributor.affiliationum Ohio University; Stonehill College; University of Michigan en_US
dc.contributor.affiliationum Ohio University; Stonehill College; University of Michigan en_US
dc.contributor.affiliationum Ohio University; Stonehill College; University of Michigan en_US
dc.contributor.affiliationum Ohio University; Stonehill College; University of Michigan en_US
dc.description.bitstreamurl http://deepblue.lib.umich.edu/bitstream/2027.42/31364/1/0000276.pdf en_US
dc.identifier.doi http://dx.doi.org/10.1006/obhd.1994.1063 en_US
dc.identifier.source Organizational Behavior and Human Decision Processes en_US
dc.owningcollname Interdisciplinary and Peer-Reviewed
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