Uncovering emotions and insights evoked by paper currency |
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| Authors: | Monica D Hernandez Nese Nasif Kai Malzer Michael S Minor |
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| Institution: | 1. Department of Management and Marketing, Texas A&2. M University-Corpus Christi, Corpus Christi, TX, USA;3. Department of Marketing, University of Wisconsin-La Crosse, La Crosse, WI, USA;4. Department of Economics, University of Applied Sciences, Worms, Germany;5. Department of Marketing, The University of Texas-Rio Grande Valley, Edinburg, TX, USA |
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| Abstract: | Despite the pervasiveness of paper currency in market exchanges, consumer research has focused only on its effects based on denomination and physical appearance. Previous work noted that the physical appearance of paper currency elicits emotions such as disgust and pride. However, no other research to date has uncovered additional emotions elicited by bills. The purpose of this study is twofold: (1) to uncover the series of emotions elicited by paper currency and (2) to expose additional insights. Consumer narratives were collected using the critical incident technique. Both elicited emotions and insights were identified and classified according to existing classifications of emotions and money insights in the literature. Our study revealed a unique set of emotions and insights not previously classified in prior research. Implications for practice and directions for future work are noted. |
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| Keywords: | Paper currency consumer emotions consumer insights critical incident technique |
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