Nostalgia, by heightening feelings of connectedness, reduces people’s desire for money, says a team led by Jannine D. Lasaleta of the Grenoble School of Management in France. In one experiment, nostalgic feelings increased people’s willingness to pay for desired objects. In another, participants who were asked to draw pictures of coins drew them 10pc smaller after writing about a nostalgic event. Inducing warm feelings about a cherished past could bring big benefits for those seeking to part consumers from their money.
(Source: Journal of Consumer Research)
Published in Dawn, Economic & Business, August 18th, 2014
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