Previous research suggests people firmly value moral standards. However, research has also shown that various factors can compromise moral behavior. Inspired by the recent financial turmoil, we investigate whether financial deprivation might shift people’s moral standards and consequently...

Consumers assess their well-being subjectively, largely by comparing the present state of their lives to the state of comparable others and to their own state earlier in time. The authors suggest that consumers similarly assess their financial well-being, and when these evaluations highlight a...

Purchases fall along a continuum from ordinary (common or frequent) to exceptional (unusual or infrequent), with many of the largest expenses (e.g., electronics, celebrations) being the most exceptional. Across seven studies, we show that, while people are fairly adept at budgeting and...