Marketing Letters

, Volume 17, Issue 4, pp 281–294 | Cite as

Personal loan users’ mental integration of payment and consumption

  • Bernadette Kamleitner
  • Erich Kirchler


Buying a good on a loan entails numerous consumption and payment episodes. Loan users can either mentally integrate or separate these episodes. In order to identify the actual mental structures, we conducted 29 semi-structured interviews with current and prospective loan users. A content analysis revealed that a majority of loan users established a hedonically efficient one-way connection from the loan to the good; i.e., the good was perceived as unrelated to the loan, whereas, concurrently, payments were buffered by thoughts of the good. Furthermore, the analysis revealed that mental structures are less stable than sometimes assumed.


Mental integration Hedonic editing Mental accounting Consumer credit 


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Copyright information

© Springer Science + Business Media, LLC 2006

Authors and Affiliations

  1. 1.Department of Economic Psychology, Educational Psychology and EvaluationUniversity of ViennaAustria
  2. 2.University of ViennaViennaAustria

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