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Mental Accounting

"An economic concept established by economist Richard Thaler, which contends that individuals divide their current and future assets into separate, non-transferable portions. The theory purports individuals assign different levels of utility to each asset group, which affects their consumption decisions and other behaviors."
Investopedia.com: Mental Accounting

"If Richard Thaler's concept of mental accounting is one of two pillars upon which the whole of behavioral economics rests, then prospect theory is the other."
Belsky and Gilovich (1999)

"...mental accounting as a cause of a historical equity premium that has been too high, relative to the underlying fundamentals..."
Shefrin (2000)

"Mental accounting: Thaler (1980) and Kahneman, Knetch and Thaler (1991)."
Taleb (2004)

Top 10 Papers

1. THALER, R., 1985. Mental Accounting and Consumer Choice. Marketing Science. [Cited by 964] (43.34/year)
2. THALER, R.H., 1999. Mental accounting matters. Journal of Behavioral Decision Making. [Cited by 334] (40.52/year)
3. BARBERIS, N. and M. HUANG, 2001. Mental Accounting, Loss Aversion, and Individual Stock Returns. The Journal of Finance. [Cited by 182] (29.16/year)
4. PRELEC, D. and G. LOEWENSTEIN, 1998. The Red and the Black: Mental Accounting of Savings and Debt. Marketing Science. [Cited by 131] (14.17/year)
5. HENDERSON, P.W. and R.A. PETERSON, 1992. Mental accounting and categorization. Organizational behavior and human decision processes(Print). [Cited by 64] (4.20/year)
6. HEATH, C., 1995. … de-escalation of commitment in response to sunk costs: the role of budgeting in mental accounting. Organizational behavior and human decision processes(Print). [Cited by 73] (5.96/year)
7. HEATH, T.B., S. CHATTERJEE and K.R. FRANCE, 1995. Mental Accounting and Changes in Price: The Frame Dependence of Reference Dependence. Journal of Consumer Research. [Cited by 48] (3.92/year)
8. SHEFRIN, H.M. and R.H. THALER, 1992. Mental accounting, saving, and self-control. Choice over time. [Cited by 47] (3.08/year)
9. HIRST, D.E., E.J. JOYCE and M.S. SCHADEWALD, 1994. Mental accounting and outcome continuity in consumer-borrowing decisions. Organizational behavior and human decision processes(Print). [Cited by 28] (2.11/year)
10. THALER, R.H., et al., 1997. The Effect of Myopia and Loss Aversion on Risk Taking: An Experimental Test. The Quarterly Journal of Economics. [Cited by 132] (12.89/year)

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• HEATH, C. and J.B. SOLL, 1996. Mental accounting and consumer decisions. Journal of Consumer Research. [Cited by 9] (0.80/year)
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• HEATH, T.B., S. CHATTERJEE and K.R. FRANCE, 1995. Mental Accounting and Changes in Price: The Frame Dependence of Reference Dependence. Journal of Consumer Research. [Cited by 48] (3.92/year)
• HENDERSON, P.W. and R.A. PETERSON, 1992. Mental accounting and categorization. Organizational behavior and human decision processes(Print). [Cited by 64] (4.20/year)
• HEYNDELS, B. and F. VAN, 1998. Mental Accounting in Local Public Sector Budgeting: An Empirical Analysis for the Flemish …. EASTERN ECONOMIC JOURNAL. [Cited by 3] (0.32/year)
• HIRST, D.E., E.J. JOYCE and M.S. SCHADEWALD, 1994. Mental accounting and outcome continuity in consumer-borrowing decisions. Organizational behavior and human decision processes(Print). [Cited by 28] (2.11/year)
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• JOHNSON, M.D., A. HERRMANN and H.H. BAUER, 1999. The effects of price bundling on consumer evaluations of product offerings. International Journal of Research in Marketing. [Cited by 41] (4.97/year)
• JOYCE, E.J. and B.P. SHAPIRO, 1995. Invariance violations and mental accounting procedures in riskless matching. Organizational behavior and human decision processes(Print). [Cited by 8] (0.65/year)
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• KAUSTIA, M., 2005. Mental accounting of stock market profits: the ‘buy low sell high'heuristic. Unpublished working paper, Helsinki School of Economics. [Cited by 2] (0.89/year)
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• MONSEN, N., 1998. The Contingency Model of Governmental Accounting Innovations: a discussion. European Accounting Review. [Cited by 22] (2.38/year)
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• OKADA, E.M., 2001. Trade-ins, Mental Accounting, and Product Replacement Decisions. Journal of Consumer Research. [Cited by 17] (2.72/year)
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• PRELEC, D. and G. LOEWENSTEIN, 1998. The Red and the Black: Mental Accounting of Savings and Debt. Marketing Science. [Cited by 131] (14.17/year)
• PRELEC, D. and G. LOEWENSTEIN, 1997. Beyond Time Discounting. Marketing Letters. [Cited by 12] (1.17/year)
• PUROHIT, D., 1995. Playing the role of buyer and seller: The mental accounting of trade-ins. Marketing Letters. [Cited by 8] (0.65/year)
• RABIN, M. and R.H. THALER, 2001. Anomalies: Risk Aversion. The Journal of Economic Perspectives. [Cited by 155] (24.83/year)
• RANYARD, R. and D. ABDEL-NABI, 1993. Mental accounting and the process of multiattribute choice.. Acta Psychol (Amst). [Cited by 12] (0.84/year)
• RICHARD, T., 1985. ? Mental Accounting and Consumer Choice?. Marketing Science. [Cited by 4] (0.18/year)
• RICHARD, T., 1999. Mental Accounting Matters. J], Journal of Behavioral Decision Making, 12: 183-206. [Cited by 2] (0.24/year)
• ROCKENBACH, B., 2004. The behavioral relevance of mental accounting for the pricing of financial options. Journal of Economic Behavior and Organization. [Cited by 7] (2.16/year)
• ROXBURGH, C., 2003. Hidden flaws in strategy. The McKinsey Quarterly. [Cited by 8] (1.89/year)
• SCHALTEGGER, S. and R. BURRITT, 2000. Contemporary Environmental Accounting: issues, concepts, and practice. books.google.com. [Cited by 86] (11.88/year)
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• SCUDERI, P.E., 2003. Droperidol: many questions, few answers. Anesthesiology. [Cited by 24] (5.66/year)
• SHAFIR, E. and R.H. THALER, 1998. Invest now, drink later, spend never: the mental accounting of advanced purchases'. [Cited by 3] (0.32/year)
• SHEFRIN, H. and M. STATMAN, 1985. The Disposition to Sell Winners Too Early and Ride Losers Too Long: Theory and Evidence. The Journal of Finance. [Cited by 442] (19.87/year)
• SHEFRIN, H. and M. STATMAN, 2000. Behavioral Portfolio Theory. The Journal of Financial and Quantitative Analysis. [Cited by 151] (20.85/year)
• SHEFRIN, H.M. and R.H. THALER, 1992. Mental accounting, saving, and self-control. Choice over time. [Cited by 47] (3.08/year)
• SHEFRIN, H.M. and R.H. THALER, 1988. The Behavioral Life-Cycle Hypothesis. Economic Inquiry. [Cited by 250] (12.99/year)
• SHEFRIN, H.M. and R.H. THALER, 1992. Saving and Mental Accounting. Choices over Time, Russell Sage Foundation. [Cited by 3] (0.20/year)
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• SMETTERS, K., 2002. Has Mental Accounting Been Successful in Saving Social Security Surpluses?. The Wharton School, Working Paper, University of …. [Cited by 2] (0.38/year)
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• SZABO, N., 1999. Micropayments and Mental Transaction Costs. 2nd Berlin Internet Economics Workshop. [Cited by 9] (1.09/year)
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• THALER, H., 1999. Mental Accounting Matters. Journal of Behavioral Decision Making. [Cited by 2] (0.24/year)
• THALER, R., 1985. Mental Accounting andConsumer Choice. Marketing Science. [Cited by 15] (0.67/year)
• THALER, R., 1985. Mental Accounting and Human Choice. Marketing Science. [Cited by 2] (0.09/year)
• THALER, R., 1985. Mental Accounting and Consumer Choice. Marketing Science. [Cited by 964] (43.34/year)
• THALER, R.H., 1999. Mental accounting matters. Journal of Behavioral Decision Making. [Cited by 334] (40.52/year)
• THALER, R.H., 1990. Anomalies: Saving, Fungibility, and Mental Accounts. The Journal of Economic Perspectives. [Cited by 185] (10.73/year)
• THALER, R.H., 1983. Using Mental Accounting in a Theory of Consumer Behavior. Graduate School of Business and Public Administration, Cornell …. [Cited by 9] (0.37/year)
• THALER, R.H., 1985. Using mental accounting in a theory of purchasing behavior. Marketing Science. [Cited by 4] (0.18/year)
• THALER, R.H., Richard H.(1985),“Mental Accounting and Consumer Choice,”. Marketing Science. [Cited by 3] (?/year)
• THALER, R.H., 1994. Psychology and Savings Policies. The American Economic Review. [Cited by 105] (7.93/year)
• THALER, R.H., 1992. Saving and Mental Accounting. Choices Over Time. [Cited by 2] (0.13/year)
• THALER, R.H., Mental accounting matters in KAHNEMAN. Daniel e TVERSKY. [Cited by 2] (?/year)
• THALER, R.H., 2000. From Homo Economicus to Homo Sapiens. The Journal of Economic Perspectives. [Cited by 117] (16.16/year)
• THALER, R.H. and W.T. ZIEMBA, 1988. Anomalies: Parimutuel Betting Markets: Racetracks and Lotteries. The Journal of Economic Perspectives. [Cited by 153] (7.95/year)
• THALER, R.H., et al., 1997. The Effect of Myopia and Loss Aversion on Risk Taking: An Experimental Test. The Quarterly Journal of Economics. [Cited by 132] (12.89/year)
• WARNERYD, K.E., 1999. The Psychology of Saving: A Study ofEconomic Psychology. Financial Counseling and Planning. [Cited by 37] (4.49/year)
• WEBLEY, P. and Z. PLAISIER, 1998. Mental accounting in childhood. Children's Social and Economic Education. [Cited by 5] (0.54/year)
• WOODSIDE, A. and A.E. SINGER, 1994. Social Interaction Effects in the Framing of Buying Decisions. Psychology and Marketing. [Cited by 9] (0.68/year)
• XIAO, J. and G.I. OLSON, 1993. Mental Accounting and Saving Behavior. Family and Consumer Sciences Research Journal. [Cited by 7] (0.49/year)