Faculty Sponsor: Professor Kaparakis
Live Poster Session: Zoom Link
Abstract: Greater research on how self-control impacts short and long-term spending may help lawmakers create relevant policies that could possibly meter impulsivity in spending, such as term disclosure. Policymakers in the past have crafted legislation that demystifies credit card terms like annual fees and percentages, shown in the passage of the Schumer Box. The rationale for this law was that consumers would be more prudent in the long-term if they knew all of the costs associated with their short-term spending (Frankel and Adams, 2021). Confusing terms still exist in other forms that could create worse long-term outcomes through debt for many Americans, like college loans or mortgages. This paper found that the relationship between materialism and originally appeared to be statistically significant. However, confounding variables appeared to turned the relationship insignificant, meaning this analysis fails to reject the null hypothesis. Further research may need to be done with more specific questions targeted towards materialism to ensure that no relationship exists.
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