Consumer Psychology, Cryptocurrency and Blockchain

Introduction

Special issue of Psychology & Marketing; Deadline 31 Jan 2023

INTEREST CATEGORY: INNOVATION AND TECH, CONSUMER BEHAVIOR
POSTING TYPE: Calls: Journals

Author: Polymeros Chrysochou

Consumer Psychology, Cryptocurrency and Blockchain

Given the enormous media attention and speculation on cryptocurrency markets, there is a growing interest from researchers, businesspeople, investors and public policy makers in what consumers think about crypto and what drives crypto purchasing. Is it pure speculation? Is it reckless gambling? Or is it far-sighted, long-term holding of a new currency that will supersede current fiat dollars? How should public policy makers deal with crypto to protect consumers? How will consumers react to crypto regulations? Will they experience gratitude for the oversight or reactance at the intrusion by regulators?

In terms of consumer research, Macdonnell and White (2015) noted that virtual currencies like Bitcoin have the potential to make money more abstract. Yet only recently has consumer research on crypto begun to emerge. Recent research has examined cryptocurrency in relation to motives and investor profiles for Initial Coin Offerings (Fisch et al., 2021), and the influence of cues (Ullah et al., 2022). In psychology, research has also examined traits and consumer responses to cryptocurrency. For instance, Martin, Chrysochou, Strong, Wang and Yao (2022) found that the personality traits of the Dark Tetrad offered insight into consumer attitude and buying intention for crypto. Further, they studied three mediators – positivity, Fear Of Missing Out and distrust of politicians. At a social level beyond the individual, research has examined communities (Breidbach & Tana, 2021) and Arnould, Arvidsson and Eckhardt (2021, p. 422) note that “digital goods like Bitcoin and other BlockChain-based products like nonfungible tokens (NFTs) may provide not just new sources of value but both new economic and social relationships.”

In recognition of the tremendous interest and market activity in cryptocurrency and the emerging research in this area, this special issue calls for papers to address and explore contemporary marketing issues about cryptocurrency and its implications for marketing psychology. We call for research that offers theoretical insights as well as practical, useful insights for marketers, educators and public policy makers.

Articles considered for the Special Issue may focus on topics including, but not limited to, the following research questions:

  • Consumer perceptions of money and the theoretical similarities and differences of their perceptions of cryptocurrency
  • Building on insights about the Dark Tetrad and consumer judgments about cryptocurrency
  • Fear of Missing Out related to cryptocurrency investment
  • Mediators of consumer responses to cryptocurrency
  • The influence of personality traits on crypto purchase intention
  • How branding of cryptocurrency (e.g., Bitcoin) affects consumer judgments
  • The influence of other technology (e.g., biometrics) on consumer behaviour towards cryptocurrency
  • How blockchain is influencing consumer behaviour in relation to financial transactions and personal finances
  • Consumer resistance to cryptocurrency
  • Differences between experts and novices in consumer cryptocurrency responses
  • Consumer perceptions of privacy risk and blockchain solutions.
  • The marketing psychology ethics for researchers studying cryptocurrency
  • Effects of propaganda and consumer perceptions of cryptocurrency
  • Investigating both affective and cognitive responses to cryptocurrency purchase intentions
  • Effects of consumer sentiment on consumer behaviour towards cryptocurrency
  • Has social isolation from COVID-19 influenced consumer interest in cryptocurrency? If so, what drives these effects?

References

Arnould, E. J., Arvidsson, A., & Eckhardt, G. M. (2021). Consumer Collectives: A History and Reflections on Their Future. Journal of the Association for Consumer Research,6(4), 415-428.

Breidbach, C. F., & Tana, S. (2021). Betting on Bitcoin: How social collectives shape cryptocurrency markets. Journal of Business Research,122, 311-320.

Fisch, C., Masiak, C., Vismara, S., & Block, J. (2021). Motives and profiles of ICO investors. Journal of Business Research,125, 564-576.

Macdonnell, R., & White, K. (2015). How construals of money versus time impact consumer charitable giving. Journal of Consumer Research,42(4), 551-563.

Martin, B. A., Chrysochou, P., Strong, C., Wang, D., & Yao, J. (2022). Dark personalities and Bitcoin®: The influence of the Dark Tetrad on cryptocurrency attitude and buying intention. Personality and Individual Differences,188, 111453.

Ullah, S., Attah-Boakye, R., Adams, K., & Zaefarian, G. (2022). Assessing the Influence of Celebrity and Government Endorsements on Bitcoin’s Price Volatility. Journal of Business Research.

Guest Editors

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