Homo moralis and Homo economicus : scale development and validation of consumers' moral preferences

Purpose: The purpose of this study is to develop and validate scales measuring two consumer moral preferences: Homo moralis and Homo economicus. Design/methodology/approach: This research includes four sequential studies. Before the first study, items were established through a comprehensive literature review and pre-test. Four studies were then conducted to verify the validity and reliability of the scales following the scale validation methodology suggested by Churchill (1979) and Anand and Kaur (2018). Study 1 employed exploratory factor analysis to extract the underlying factor structure of the scale. This led to a two-factor structure with sufficient evidence of internal reliability. Study 2 and Study 3 were conducted to confirm the reliability and the validity of the scale using confirmatory factor analysis and Cronbach's alpha. The final study established the predictive validity of the scale using a structural equation model. Findings: Finally, seven items were developed measuring consumers' moral preferences for Homo moralis and Homo economicus. Research limitations/implications: This research has some limitations that should be addressed in future research. First, the scale was only tested in a Korean context. Second, this study was not conducted in the context of a specific industry. Originality/value: This study extends the range of research to an empirical field by practically verifying how these two preferences are independent, can be generalized and can influence human behavior. This study empirically demonstrates that the preferences affect human behavior such as purchase intention. This study extends the current knowledge on Homo moralis and Homo economicus by providing a scale for empirical validation of the concepts.