Hedonic and Utilitarian Motivations behind Shopping and Research Behaviors: Theory and Evidence

Abstract

Using a simple theoretical model, this paper demonstrates that an individual's behavior is greatly influenced by her hedonic and utilitarian values of a task. While hedonic value is the intrinsic benefit one receives from performing a task (e.g., having fun playing the game), utilitarian value is the tangible reward one obtains from performing the task (e.g., winning the prize). Utilitarian value of a task outlasts its hedonic value. An individual with high utilitarian value but low hedonic value of a task is likely to stop performing that task once she receives a tangible reward. By contrast, an individual who garners high hedonic value of a task will continue performing that task to obtain more hedonic value. The survey reveals that most individuals agree that the utilitarian value of shopping outlasts its hedonic value. Regression results demonstrate that consumers with high hedonic value of shopping are more likely to exhibit traits of shopaholism than those with low hedonic value in shopping. JEL classification codes: D01, D03, J2.