Separating the influence of budget and numeric priming on willingness to pay

Abstract

Impulsive decision-making hinders financial savings, which is especially pertinent given that younger generations are already increasingly likely to struggle with debt and their financials. Our findings not only highlight younger populations’ susceptibility to impulsivity in consumer decision-making, but also they underscore some of the reasons why. Specifically, the eye-tracking data we collected indicates a correlation between impulsivity and patterns in processing visual information. We hope the results can be used for interventions for impulsivity by helping people view their surroundings differently, both with regards to consumer choice and other forms of impulsivity like anger or hunger. If used for the right reasons, the results could change the way people attend to stimuli, nudging their behavior for good.