• incl. mental budgeting (separation of monetary income into economic categories), labelling of income and assets, hedonic framing (evaluation of gains and loss combinations)
• violates the fungibility assumption of money

H1: Socially excluded people have a higher preference for high-risk investment products than socially included people.

H2: For individuals with higher mental budgeting, the positive effect of social exclusion on preference for high-risk investment products will be lower.

H3: The mod...

The study found that consumers experiencing social exclusion are more likely to make high risk investments. This effect is moderated by consumers' level of mental budgeting such that at high levels of mental budgeting the effect of social exclusio...

• a state of physical/emotional isolation involving feelings of loneliness due to being left out, ignored or ostracised by others
• leads to anti-social behaviour

influences:

• preference for distinctive products: psychological emptiness/ unsatisfactory interpersonal...