TY - JOUR
T1 - Object Valuation and Non-Ownership Possession: How Renting and Borrowing Impact Willingness-to-pay
AU - Bagga, Charan K
AU - Bendle, Neil
AU - Cotte, June
PY - 2019/1/15
Y1 - 2019/1/15
N2 - Prior research on object valuation ignores the effect of non-ownership physical possession types such as renting and borrowing. Evidence from four experiments demonstrates that the valuation (i.e., willingness-to-pay) for rented objects is greater than the valuation for non-possessed or borrowed objects. Borrowed objects are not valued any differently than non-possessed objects. Psychological ownership mediates the relationship between valuation and non-ownership physical possession. Additionally, psychological ownership varies for different possession types (ownership, renting, and borrowing) as its contributing routes (control, self-investment, and knowledge) operate differently for each possession type. As further evidence of the psychological ownership based theoretical account, the research shows that rented objects are not valued higher than non-possessed objects if the control or self-investment routes of psychological ownership are suppressed. The moderating influence of product hedonism–utilitarianism and consumers’ tightwad–spendthrift tendency on the valuation of rented and borrowed objects is also examined
AB - Prior research on object valuation ignores the effect of non-ownership physical possession types such as renting and borrowing. Evidence from four experiments demonstrates that the valuation (i.e., willingness-to-pay) for rented objects is greater than the valuation for non-possessed or borrowed objects. Borrowed objects are not valued any differently than non-possessed objects. Psychological ownership mediates the relationship between valuation and non-ownership physical possession. Additionally, psychological ownership varies for different possession types (ownership, renting, and borrowing) as its contributing routes (control, self-investment, and knowledge) operate differently for each possession type. As further evidence of the psychological ownership based theoretical account, the research shows that rented objects are not valued higher than non-possessed objects if the control or self-investment routes of psychological ownership are suppressed. The moderating influence of product hedonism–utilitarianism and consumers’ tightwad–spendthrift tendency on the valuation of rented and borrowed objects is also examined
KW - Object valuation
KW - Renting
KW - Borrowing
KW - Psychological ownership
KW - Endowment effect
UR - https://pure.ulster.ac.uk/en/publications/object-valuation-and-non-ownership-possession-how-renting-and-bor
U2 - https://doi.org/10.1007/s11747-018-0596-3
DO - https://doi.org/10.1007/s11747-018-0596-3
M3 - Article
VL - 47
SP - 97
EP - 117
JO - Journal of the Academy of Marketing Science
JF - Journal of the Academy of Marketing Science
SN - 0092-0703
ER -