Our money, our minds, and our morality have been intractably intertwined since the very first transaction of value was consummated. But interestingly enough, when it comes to a discussion about the history of commerce and finance, historians tend to strip out psychology and morality—rarely straying far from what they contend are the cold hard facts. More often than not, psychology only factors in when exploring aspects of marketing, negotiating, and/or trading—but usually to explain some ... Continue Reading
How Sour is Your Lemon?: Toxic Product Syndrome
Automobiles are marketed along two major dimensions: structural quality and consumer image. How these variables interact raises interesting issues concerning theory vis-à-vis consumer psychology and markets. When corporate messages of quality and image are asymmetric – and possibly disparate – a psychological syndrome can develop among various players that is adverse to the market. This syndrome is called Toxic Product Syndrome (TPS). The notion of a syndrome derives from ancient Greek; the ... Continue Reading
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