Promotion and Prevention across Mental Accounts: When Financial Products Dictate Consumers& Investment Goals
研究发现，消费者投资决策受心理账户中促进与预防调节的影响，不同金融产品会引发不同的风险偏好，投资目标可能由产品本身决定而非独立存在。
We propose that consumers& investment decisions involve processes of promotion and prevention regulation that are managed across separate mental accounts, with different financial products seen as representative of promotion versus prevention. Consistent with this hypothesis, we show that (a) investors are differentially sensitive to gains and losses and differentially risk seeking depending on the financial products being considered and (b) that these phenomena occur because of strong associations between financial products and promotion versus prevention. Therefore, investors& goals may be determined by the investment opportunities under evaluation rather than being independent of these opportunities, as is assumed in standard finance theory.