NotesFAQContact Us
Collection
Advanced
Search Tips
Back to results
Peer reviewed Peer reviewed
PDF on ERIC Download full text
ERIC Number: EJ1386850
Record Type: Journal
Publication Date: 2023
Pages: 15
Abstractor: As Provided
ISBN: N/A
ISSN: N/A
EISSN: EISSN-2363-8761
Consumers with Math Anxiety, a Financially Vulnerable Group? Unpacking the Negative Relation between Math Anxiety and Performance on a Price Comparison Task
Storozuk, Andie; Retanal, Fraulein; Maloney, Erin A.
Journal of Numerical Cognition, v9 n1 p1-15 2023
Comparison shopping is good financial practice, but situations involving numbers and computations are challenging for consumers with math anxiety. We asked North Americans (N = 256) to select the better deal between two products differing in volume and price. As predicted, math anxiety was negatively related to performance on this Price Comparison Task. We then explored the mechanism underlying this relation by testing math competency, price calculation ability, need for cognition, and cognitive reflection as potential mediators. The results from a competing mediator analysis indicated that all factors, apart from need for cognition, served as significant independent mediators between math anxiety and performance on our Price Comparison Task. This study has important implications for how--and why--math anxiety relates to a person's ability to accurately compare product prices. These data suggest that consumers higher in math anxiety may represent a financially vulnerable population, particularly in the context of financial tasks that are inherently mathematical.
Leibniz Institute for Psychology. Universitatsring 15, Trier, 54296, Germany. e-mail: support@psychopen.eu; Web site: https://jnc.psychopen.eu
Publication Type: Journal Articles; Reports - Research
Education Level: Higher Education; Postsecondary Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Identifiers - Location: Canada
Identifiers - Assessments and Surveys: State Trait Anxiety Inventory
Grant or Contract Numbers: N/A