IDEAS home Printed from https://ideas.repec.org/a/rej/journl/v23y2020i77p50-63.html
   My bibliography  Save this article

Men, Money and Household Economy: How Behavioral Approach Explain It

Author

Listed:
  • Sunardi Sunardi
  • Theresia Woro Damayanti
  • Supramono Supramono

Abstract

For various reasons, men set aside a certain proportion of their income without being known by their wives or commonly known as ‘husband’s money.’ However, husband’s money often causes household problems. In this respect, this study aims to analyze factors that influence men to have husband’s money. This study employed a field survey and obtained as many as 322 postgraduate students as respondents. Data Analysis used Structural Equation Modeling (SEM). The results showed that the decision to have husband’s money was influenced by intention. Later, such intention was affected by the attitude towards husband’s money, subjective norms, and the ease of owning husband’s money or perceived behavioral control. Other results showed that most households had husband’s money obtained from non-salary income and it was used to meet their personal needs and investment purposes. Moreover, this study found a mental accounting phenomenon because there were different types of utilization of husband’s money based on its sources

Suggested Citation

  • Sunardi Sunardi & Theresia Woro Damayanti & Supramono Supramono, 2020. "Men, Money and Household Economy: How Behavioral Approach Explain It," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 23(77), pages 50-63, September.
  • Handle: RePEc:rej:journl:v:23:y:2020:i:77:p:50-63
    as

    Download full text from publisher

    File URL: http://www.rejournal.eu/sites/rejournal.versatech.ro/files/articole/2020-09-30/3614/5sunardisunardi.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Ranyard, Rob & Hinkley, Lisa & Williamson, Janis & McHugh, Sandie, 2006. "The role of mental accounting in consumer credit decision processes," Journal of Economic Psychology, Elsevier, vol. 27(4), pages 571-588, August.
    2. Hoch, Stephen J & Loewenstein, George F, 1991. "Time-Inconsistent Preferences and Consumer Self-Control," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 17(4), pages 492-507, March.
    3. Nava Ashraf, 2009. "Spousal Control and Intra-household Decision Making: An Experimental Study in the Philippines," American Economic Review, American Economic Association, vol. 99(4), pages 1245-1277, September.
    4. Daniel Kahneman & Amos Tversky, 2013. "Prospect Theory: An Analysis of Decision Under Risk," World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part I, chapter 6, pages 99-127, World Scientific Publishing Co. Pte. Ltd..
    5. Yadav, Rambalak & Pathak, Govind S., 2017. "Determinants of Consumers' Green Purchase Behavior in a Developing Nation: Applying and Extending the Theory of Planned Behavior," Ecological Economics, Elsevier, vol. 134(C), pages 114-122.
    6. James J. Choi & David Laibson & Brigitte C. Madrian, 2009. "Mental Accounting in Portfolio Choice: Evidence from a Flypaper Effect," American Economic Review, American Economic Association, vol. 99(5), pages 2085-2095, December.
    7. Ajzen, Icek, 1991. "The theory of planned behavior," Organizational Behavior and Human Decision Processes, Elsevier, vol. 50(2), pages 179-211, December.
    8. Richard H. Thaler, 2008. "Mental Accounting and Consumer Choice," Marketing Science, INFORMS, vol. 27(1), pages 15-25, 01-02.
    9. Antonides, Gerrit & Robben, Henry S. J., 1995. "True positives and false alarms in the detection of tax evasion," Journal of Economic Psychology, Elsevier, vol. 16(4), pages 617-640, December.
    10. Richard H. Thaler, 2008. "Commentary—Mental Accounting and Consumer Choice: Anatomy of a Failure," Marketing Science, INFORMS, vol. 27(1), pages 12-14, 01-02.
    11. Reisch, Lucia A. & Zhao, Min, 2017. "Behavioural economics, consumer behaviour and consumer policy: state of the art," Behavioural Public Policy, Cambridge University Press, vol. 1(2), pages 190-206, November.
    12. Campos Monteiro Danielli Leite & Peñaloza Verónica & Roberto Pinto Francisco & Denegri Coria Marianela del Carmen & Orellana Calderón Ligia María, 2015. "Attitudes towards money and motivational orientation to work in Brazilian young workers," Contaduría y Administración, Accounting and Management, vol. 60(1), pages 11-30, enero-mar.
    13. Kai Chen & Ting Deng, 2016. "Research on the Green Purchase Intentions from the Perspective of Product Knowledge," Sustainability, MDPI, vol. 8(9), pages 1-16, September.
    Full references (including those not matched with items on IDEAS)

    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. Francisco Gomes & Michael Haliassos & Tarun Ramadorai, 2021. "Household Finance," Journal of Economic Literature, American Economic Association, vol. 59(3), pages 919-1000, September.
    2. Hongjuan Song & Yushi Jiang, 2019. "Dynamic pricing decisions by potential tourists under uncertainty: The effects of tourism advertising," Tourism Economics, , vol. 25(2), pages 213-234, March.
    3. Manel Baucells & Silvia Bellezza, 2017. "Temporal Profiles of Instant Utility During Anticipation, Event, and Recall," Management Science, INFORMS, vol. 63(3), pages 729-748, March.
    4. Nolan Ritter & Julia Anna Bingler, 2021. "Do homo sapiens know their prices? Insights on dysfunctional price mechanisms from a large field experiment," CER-ETH Economics working paper series 21/348, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
    5. Dan K. Hsu & Johan Wiklund & Richard D. Cotton, 2017. "Success, Failure, and Entrepreneurial Reentry: An Experimental Assessment of the Veracity of Self–Efficacy and Prospect Theory," Entrepreneurship Theory and Practice, , vol. 41(1), pages 19-47, January.
    6. Tarnanidis, Theodore & Owusu-Frimpong, Nana & Nwankwo, Sonny & Omar, Maktoba, 2015. "Why we buy? Modeling consumer selection of referents," Journal of Retailing and Consumer Services, Elsevier, vol. 22(C), pages 24-36.
    7. Tanaka, Takuro & Mizutani, Fumitoshi, 2023. "Determinants of the adoption of energy efficient water heaters in the residential sector: Evidence from a survey in Japan," Energy Policy, Elsevier, vol. 180(C).
    8. Ahrens, Steffen & Pirschel, Inske & Snower, Dennis J., 2017. "A theory of price adjustment under loss aversion," Journal of Economic Behavior & Organization, Elsevier, vol. 134(C), pages 78-95.
    9. Caballero, William N. & Lunday, Brian J., 2019. "Influence modeling: Mathematical programming representations of persuasion under either risk or uncertainty," European Journal of Operational Research, Elsevier, vol. 278(1), pages 266-282.
    10. Bhanot, Syon P. & Han, Jiyoung & Jang, Chaning, 2018. "Workfare, wellbeing and consumption: Evidence from a field experiment with Kenya’s urban poor," Journal of Economic Behavior & Organization, Elsevier, vol. 149(C), pages 372-388.
    11. Fabrizi, Simona & Lippert, Steffen & Puppe, Clemens & Rosenkranz, Stephanie, 2016. "Manufacturer suggested retail prices, loss aversion and competition," Journal of Economic Psychology, Elsevier, vol. 53(C), pages 141-153.
    12. Holthausen, Niels, 2006. "Ökonomische Bedeutung und Management von Naturrisiken im Wald: Theoretische Grundlagen und empirische Analysen nach dem Sturm Lothar (1999) in der Schweiz," Schriftenreihe Forstökonomie und Forstplanung, University of Freiburg, Chair of Forestry Economics and Planning, volume 26, number 26.
    13. Lunn, Pete & McGowan, Féidhlim & Howard, Noel, 2018. "Do some financial product features negatively affect consumer decisions? a review of evidence," Research Series, Economic and Social Research Institute (ESRI), number RS78.
    14. Diana Puspita Sari & Nur Aini Masruroh & Anna Maria Sri Asih, 2021. "Consumer Intention to Participate in E-Waste Collection Programs: A Study of Smartphone Waste in Indonesia," Sustainability, MDPI, vol. 13(5), pages 1-28, March.
    15. Metcalfe, Robert & Dolan, Paul, 2012. "Behavioural economics and its implications for transport," Journal of Transport Geography, Elsevier, vol. 24(C), pages 503-511.
    16. Karlsson, Niklas & Garling, Tommy & Selart, Marcus, 2024. "Effects of mental accounting on intertemporal choice," SocArXiv 2gne9, Center for Open Science.
    17. Anuj Kumar & Amit Mehra & Subodha Kumar, 2019. "Why Do Stores Drive Online Sales? Evidence of Underlying Mechanisms from a Multichannel Retailer," Service Science, INFORMS, vol. 30(1), pages 319-338, March.
    18. Ran Kivetz, 2003. "The Effects of Effort and Intrinsic Motivation on Risky Choice," Marketing Science, INFORMS, vol. 22(4), pages 477-502, December.
    19. Huck, Nicolas & Mavoori, Hareesh & Mesly, Olivier, 2020. "The rationality of irrationality in times of financial crises," Economic Modelling, Elsevier, vol. 89(C), pages 337-350.
    20. David Blake & Tom Boardman, 2014. "Spend More Today Safely: Using Behavioral Economics to Improve Retirement Expenditure Decisions With SPEEDOMETER Plans," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 17(1), pages 83-112, March.

    More about this item

    Keywords

    husband’s money; Theory of Planned Behavior intention; mental accounting;
    All these keywords.

    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • G00 - Financial Economics - - General - - - General

    Statistics

    Access and download statistics

    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:rej:journl:v:23:y:2020:i:77:p:50-63. 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: Radu Lupu (email available below). General contact details of provider: https://edirc.repec.org/data/frasero.html .

    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.