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EMAC 2024 Annual


When and Why Payment Schedules Fail to Enhance Consumer Choice
(A2024-118651)

Published: May 28, 2024

AUTHORS

Haojun Chen, The University of Hong Kong; Sara Kim, The University of Hong Kong; Chu (Ivy) Dang, The University of Hong Kong

ABSTRACT

In a series of experiments, we investigate the influence of installment payment options on consumers’ decision-making regarding gift-giving. The results indicate that when purchasing gifts for others, consumers tend to favor lump sum payments over choosing installment plans. Furthermore, the study reveals that consumers perceive a product less positively as a gift when the product advertisement includes information about installment payments, compared to when such information is absent. By shedding light on the situations where installment payment options impede consumers’ gift-giving behaviors, this research enriches the existing literature on payment schedules and gift giving, offering valuable managerial insights.