Consumer Wisdom: A Theoretical Framework of Five Integrated Facets

Luchs, Michael G., and David G. Mick (2018), “Consumer Wisdom: A Theoretical Framework of Five Integrated Facets”, Journal of Consumer Psychology, doi: 10.1002/jcpy.1037

We establish a parsimonious theoretical framework of consumer wisdom based on five mutually reinforcing psychological facets. Our research draws from wisdom literature and a set of 31 phenomenological interviews with informants who were identified through a multi-stage nomination process. The five facets of consumer wisdom that emerged are Intentionality, Contemplation, Emotional Mastery, Openness, and Transcendence. Together, they comprise a data-grounded, aspirational model of consumer wisdom—for researchers as well as consumers— to understand, maintain, and improve personal and collective well-being. We discuss the implications of the framework and directions for future research.

(My publication)Posted:Jan 31 2018, 11:00 PM by mluchs
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