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Consumer Wisdom: A Theoretical Framework Of Five Integrated Facets

Journal of Consumer Psychology 

Michael Gerhard Luchs, David Glen Mick

2018

We establish a parsimonious theoretical framework of consumer wisdom based on five mutually reinforcing psychological facets. Our research draws from wisdom literature and a set of 31 phenomenological interviews with informants who were identified through a multi-stage nomination process. The five facets of consumer wisdom that emerged are Intentionality, Contemplation, Emotional Mastery, Openness, and Transcendence. Together, they comprise a data-grounded, aspirational model of consumer wisdom—for researchers as well as consumers—to understand, maintain, and improve personal and collective well-being. We discuss the implications of the framework and directions for future research

Wisdom, Well-Being, Mindfulness, Values, Morality, Choice

Keywords

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