IDEAS home Printed from https://ideas.repec.org/a/kap/jcopol/v33y2010i4p339-353.html
   My bibliography  Save this article

Deceiving Our Minds: A Qualitative Exploration of the Money Illusion in Post-redenomination Ghana

Author

Listed:
  • Vivian Dzokoto
  • Edwin Mensah
  • Maxwell Twum-Asante
  • Annabella Opare-Henaku

Abstract

No abstract is available for this item.

Suggested Citation

  • Vivian Dzokoto & Edwin Mensah & Maxwell Twum-Asante & Annabella Opare-Henaku, 2010. "Deceiving Our Minds: A Qualitative Exploration of the Money Illusion in Post-redenomination Ghana," Journal of Consumer Policy, Springer, vol. 33(4), pages 339-353, December.
    • Handle: RePEc:kap:jcopol:v:33:y:2010:i:4:p:339-353
    DOI: 10.1007/s10603-010-9144-3
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1007/s10603-010-9144-3
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1007/s10603-010-9144-3?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Raghubir, Priya & Srivastava, Joydeep, 2002. "Effect of Face Value on Product Valuation in Foreign Currencies," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 29(3), pages 335-347, December.
    2. Bart Hobijn & Federico Ravenna & Andrea Tambalotti, 2006. "Menu Costs at Work: Restaurant Prices and the Introduction of the Euro," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 121(3), pages 1103-1131.
    3. Rob Ranyard, 2007. "Euro Stories: The Irish Experience of Currency Change," Journal of Consumer Policy, Springer, vol. 30(4), pages 313-322, December.
    4. Benassy, Jean-Pascal, 1995. "Money and wage contracts in an optimizing model of the business cycle," Journal of Monetary Economics, Elsevier, vol. 35(2), pages 303-315, April.
    5. Modigliani, Franco, 1986. "Life Cycle, Individual Thrift, and the Wealth of Nations," American Economic Review, American Economic Association, vol. 76(3), pages 297-313, June.
    6. Cannon, Edmund & Cipriani, Giam Pietro, 2006. "Euro-Illusion: A Natural Experiment," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 38(5), pages 1391-1403, August.
    7. Amado, Sonia & Tekozel, Mert & Topsever, Yurdal & Ranyard, Rob & Del Missier, Fabio & Bonini, Nicolao, 2007. "Does "000,000" matter? Psychological effects of Turkish monetary reform," Journal of Economic Psychology, Elsevier, vol. 28(2), pages 154-169, April.
    8. Eldar Shafir & Peter Diamond & Amos Tversky, 1997. "Money Illusion," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 112(2), pages 341-374.
    9. Dusansky, Richard & Kalman, Peter J, 1974. "The Foundations of Money Illusion in a Neoclassical Micro-Monetary Model," American Economic Review, American Economic Association, vol. 64(1), pages 115-122, March.
    10. Tyszka, Tadeusz & Przybyszewski, Krzysztof, 2006. "Cognitive and emotional factors affecting currency perception," Journal of Economic Psychology, Elsevier, vol. 27(4), pages 518-530, August.
    11. Priya Raghubir & Joydeep Srivastava, 2009. "The Denomination Effect," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 36(4), pages 701-713, December.
    12. Mussweiler, Thomas & Englich, Birte, 2003. "Adapting to the Euro: Evidence from bias reduction," Journal of Economic Psychology, Elsevier, vol. 24(3), pages 285-292, June.
    13. Ernst Fehr & Jean-Robert Tyran, 2001. "Does Money Illusion Matter?," American Economic Review, American Economic Association, vol. 91(5), pages 1239-1262, December.
    14. Lineta Ramoniene & Dovydas Brazys, 2007. "Euro Introduction Effects on Individuals’ Economic Decisions: Testing the Presence of Difference Assessment Account among Lithuanian and Latvian Consumers," Baltic Journal of Economics, Baltic International Centre for Economic Policy Studies, vol. 6(2), pages 29-55, January.
    15. Brachinger, Hans Wolfgang, 2006. "Euro or “Teuro”?: The Euro-induced Perceived Inflation in Germany," DQE Working Papers 5, Department of Quantitative Economics, University of Freiburg/Fribourg Switzerland.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Bernard Njindan Iyke & Sin-Yu Ho, 2017. "Exchange rate uncertainty and domestic investment in Ghana," Cogent Economics & Finance, Taylor & Francis Journals, vol. 5(1), pages 1362157-136, January.
    2. Erwin Bramana Karnadi & Putu Rusta Adijaya, 2017. "Redenomination: Why is It Effective in One Country but Not in Another?," International Journal of Economics and Financial Issues, Econjournals, vol. 7(3), pages 186-195.
    3. Vivian A. Dzokoto & John Kojo Aggrey & Hortance Houngbeke & Edwin Clifford Mensah, 2018. "Exploring Knowledge Gaps and Financial Exclusion in Ghanaian Monetary Transitions," Journal of Information & Knowledge Management (JIKM), World Scientific Publishing Co. Pte. Ltd., vol. 17(03), pages 1-25, September.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Otrachshenko, Vladimir & Popova, Olga & Tavares, José, 2016. "Psychological costs of currency transition: evidence from the euro adoption," European Journal of Political Economy, Elsevier, vol. 45(C), pages 89-100.
    2. Amelie Gamble, 2007. "The “Euro Illusion”: Illusion or Fact?," Journal of Consumer Policy, Springer, vol. 30(4), pages 323-336, December.
    3. Raijas, Anu & Aalto-Setälä, Ville, 2009. "Development of Finns’ price knowledge after the changeover to the euro," Journal of Retailing and Consumer Services, Elsevier, vol. 16(1), pages 19-24.
    4. Peter Wakker & Veronika Köbberling & Christiane Schwieren, 2007. "Prospect-theory’s Diminishing Sensitivity Versus Economics’ Intrinsic Utility of Money: How the Introduction of the Euro can be Used to Disentangle the Two Empirically," Theory and Decision, Springer, vol. 63(3), pages 205-231, November.
    5. Fabio Missier & Nicolao Bonini & Rob Ranyard, 2007. "The Euro Illusion in Consumers’ Price Estimation: An Italian–Irish Comparison in the Third Year of the Euro," Journal of Consumer Policy, Springer, vol. 30(4), pages 337-354, December.
    6. Charles N. Noussair & Gregers Richter & Jean-Robert Tyran, 2008. "Money Illusion and Nominal Inertia in Experimental Asset Markets," Discussion Papers 08-29, University of Copenhagen. Department of Economics.
    7. Fabrizio Adriani & Giancarlo Marini & Pasquale Scaramozzino, 2009. "The Inflationary Consequences of a Currency Changeover on the Catering Sector: Evidence from the Michelin Red Guide," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 71(1), pages 111-133, February.
    8. Michael Ehrmann, 2011. "Inflation Developments and Perceptions after the Euro Cash Changeover," German Economic Review, Verein für Socialpolitik, vol. 12(1), pages 33-58, February.
    9. Gärling, Tommy & Gamble, Amelie, 2008. "Perceived inflation and expected future prices in different currencies," Journal of Economic Psychology, Elsevier, vol. 29(4), pages 401-416, August.
    10. Antonio J. Morales & Enrique Fatas, 2021. "Price competition and nominal illusion: experimental evidence and a behavioural model," SERIEs: Journal of the Spanish Economic Association, Springer;Spanish Economic Association, vol. 12(4), pages 607-632, December.
    11. repec:agr:journl:v:1(618):y:2019:i:1(618):p:5-22 is not listed on IDEAS
    12. Fehr, Ernst & Tyran, Jean-Robert, 2007. "Money illusion and coordination failure," Games and Economic Behavior, Elsevier, vol. 58(2), pages 246-268, February.
    13. Jianjun Miao & Danyang Xie, "undated". "Monetary Policy and Economic Growth under Money Illusion," Boston University - Department of Economics - Working Papers Series wp2007-045, Boston University - Department of Economics.
    14. Vaona, Andrea, 2013. "Money illusion and the long-run Phillips curve in staggered wage-setting models," Research in Economics, Elsevier, vol. 67(1), pages 88-99.
    15. Mariko SHIMIZU, 2019. "Why do high ability people also suffer from money illusion? Experimental evidence of behavioral contradiction," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(1(618), S), pages 5-22, Spring.
    16. Amado, Sonia & Tekozel, Mert & Topsever, Yurdal & Ranyard, Rob & Del Missier, Fabio & Bonini, Nicolao, 2007. "Does "000,000" matter? Psychological effects of Turkish monetary reform," Journal of Economic Psychology, Elsevier, vol. 28(2), pages 154-169, April.
    17. Grundmann, Susanna & Giamattei, Marcus & Lambsdorff, Johann Graf, 2019. "Intentions rather than money illusion – Why nominal changes induce real effects," European Economic Review, Elsevier, vol. 119(C), pages 166-178.
    18. Ehrmann, Michael, 2006. "Rational inattention, inflation developments and perceptions after the euro cash changeover," Working Paper Series 588, European Central Bank.
    19. Bittschi, Benjamin & Duppel, Saskia, 2015. "Did the introduction of the euro lead to money illusion? Empirical evidence from Germany," ZEW Discussion Papers 15-058, ZEW - Leibniz Centre for European Economic Research.
    20. Gamble, Amelie, 2006. "Euro illusion or the reverse? Effects of currency and income on evaluations of prices of consumer products," Journal of Economic Psychology, Elsevier, vol. 27(4), pages 531-542, August.
    21. Lin, Ying-Ching & Fang, Shiuan-Huei, 2013. "The face value of foreign currency on consumer price perception—The moderating effect of product substitution," Journal of Business Research, Elsevier, vol. 66(6), pages 745-751.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:jcopol:v:33:y:2010:i:4:p:339-353. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.