Money Monopoly
Name
Institution

Money Monopoly
Introduction
The proliferation of different payment modes in the past few decades gives customers a broad range of payment modes they can use to buy products of their choice. In typical situations, they can buy with debit or credit cards, checks, or cash (Stephanie, 2007). However, other modes of payment include gift cards, gift certificates, stored value cards, gaming house chips, coupons at fairs, traveller’s checks, bank drafts, or money orders (Roth, 2014). It is imperative to note that in spite of the diversity in payment modes, the mode of payment is, in most cases, an appropriate constituent in business transactions (Raghubir & Srivastava, 2008). Thus, it is imperative to study the how certain modes of payment influence consumer behavior and spending decisions. The purpose of this article is to examine consumer spending as a function of payment mode (Chatterjee & Rose, 2011). It postulates that the situation is veritable if there is an association between the actual parting of the money and purchase decision and there are form differences between modes and the physical form of the acquisition of the purchased product (Incekara-Hafalira & Loewenstein, 2012). Thus, it will examine the willingness of consumers to spend more on products that have a credit logo than those that do not have it. It also scrutinizes the effect of attenuating credit card information to estimate the effect of a holistic versus a decomposition strategy. Similarly, it examines how consumers spend their money in cash versus scrip expenditures. Finally, it depicts the effect of attenuating payment modes to give a clear picture between git certificates and cash spending and how they relate to making purchases.
Thesis statement: Despite the similarity in amount of money on a credit or gift card to cash, consumers feel the pain