Mental accounting matters

被引:225
作者
Thaler, RH [1 ]
机构
[1] Univ Chicago, Grad Sch Business, Chicago, IL 60637 USA
关键词
mental accounting; choice bracketing; fungibility; budgeting;
D O I
10.1002/(SICI)1099-0771(199909)12:3<183::AID-BDM318>3.0.CO;2-F
中图分类号
B849 [应用心理学];
学科分类号
040203 ;
摘要
Mental accounting is the set of cognitive operations used by individuals and households to organize, evaluate, and keep track of financial activities. Making use of research on this topic over the past decade, this paper summarizes the current state of our knowledge about how people engage in mental accounting activities. Three components of mental accounting receive the most attention. This first captures how outcomes are perceived and experienced, and how decisions are made and subsequently evaluated. The accounting system provides the inputs to be both ex ante and ex post cost-benefit analyses. A second component of mental accounting involves the assignment of activities to specific accounts. Both the sources and uses of funds are labeled in real as well as in mental accounting systems. Expenditures are grouped into categories (housing, food, etc.) and spending is sometimes constrained by implicit or explicit budgets. The third component of mental accounting concerns the frequency with which accounts are evaluated and 'choice bracketing'. Accounts can be balanced daily, weekly, yearly, and so on, and can be defined narrowly or broadly. Each of the components of mental accounting violates the economic principle of fungibility. As a result, mental accounting influences choice, that is, it matters. Copyright (C) 1999 John Wiley & Sons, Ltd.
引用
收藏
页码:183 / 206
页数:24
相关论文
共 67 条
[1]   SPECIOUS REWARD - BEHAVIORAL THEORY OF IMPULSIVENESS AND IMPULSE CONTROL [J].
AINSLIE, G .
PSYCHOLOGICAL BULLETIN, 1975, 82 (04) :463-496
[2]   THE PSYCHOLOGY OF SUNK COST [J].
ARKES, HR ;
BLUMER, C .
ORGANIZATIONAL BEHAVIOR AND HUMAN DECISION PROCESSES, 1985, 35 (01) :124-140
[3]  
BENARTZI S, 1998, ILLUSORY DIVERSIFICA
[4]  
BENARTZI S, IN PRESS MANAGEMENT
[5]  
BISWANGER H, 1981, ECON J, V91, P867
[6]   Earnings management to avoid earnings decreases and losses [J].
Burgstahler, D ;
Dichev, I .
JOURNAL OF ACCOUNTING & ECONOMICS, 1997, 24 (01) :99-126
[7]   Labor supply of New York City cabdrivers: One day at a time [J].
Camerer, C ;
Babcock, L ;
Loewenstein, G ;
Thaler, R .
QUARTERLY JOURNAL OF ECONOMICS, 1997, 112 (02) :407-441
[8]  
DEGEORGE F, J BUSINESS
[9]   The illusory effects of saving incentives on saving [J].
Engen, EM ;
Gale, WG ;
Scholz, JK .
JOURNAL OF ECONOMIC PERSPECTIVES, 1996, 10 (04) :113-138
[10]  
Feenberg Daniel, 1989, TAX POLICY EC, V3, P25, DOI DOI 10.1086/TPE.3.20061782