Quotation Florack, Arnd, Keller, Johannes, Palcu, Johanna. 2013. Regulatory focus in economic contexts. Journal of Economic Psychology.


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Abstract

The authors argue that behavior in economic contexts will be better understood when it is taken into account that contexts can evoke self-regulatory strategies reflecting a promotion or prevention focus and that such contexts meet individuals with preferences for a specific kind of self-regulation. They refer to research showing that promotion- and prevention-focused self-regulation has an important impact on judgments, choice, and behavior in economic contexts, and that such effects of regulatory focus are a consequence of behavioral strategies and differences in information processing associated with the self-regulatory orientations of a promotion or prevention focus. Furthermore, the authors emphasize that cognitive feelings are a motivational force that keeps such self-regulatory processes running. In particular, they argue that feeling right and anticipation and experience of regret increase the engagement of individuals in promotion- or prevention-focused self-regulation and direct individuals towards the relevant self-regulatory goals. Finally, the authors provide examples documenting how knowledge about self-regulatory orientations of a promotion and a prevention focus can be applied to understand individuals’ behavior and to develop reasonable intervention strategies addressing relevant behavioral tendencies in the economic context.

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Publication's profile

Status of publication Published
Affiliation External
Type of publication Journal article
Journal Journal of Economic Psychology
Citation Index SSCI
WU Journalrating 2009 A
WU-Journal-Rating new FIN-A, STRAT-B, VW-C, WH-B
Language English
Title Regulatory focus in economic contexts
Year 2013
Reviewed? Y
URL https://www.sciencedirect.com/science/article/pii/S0167487013000676
DOI https://doi.org/10.1016/j.joep.2013.06.001
Open Access N

Associations

People
Palcu, Johanna (Details)
External
Florack, Arnd (University of Vienna, Austria)
Keller, Johannes (University of Ulm, Germany)
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