ACCI Conference 2026

This study investigates how anthropomorphism in female virtual influencers (VIs) affects women’s objectification and social comparison, focusing on South Korean female social media users. Drawing on social comparison theory and objectification theory, a between-subjects experiment was conducted with 200 women aged 18–35. Participants viewed attractive influencer images presented either in highly anthropomorphic (unaltered humanlike) or low-anthropomorphic (digitally animated) forms. Results showed that higher anthropomorphism increased perceived similarity, which reduced objectification but simultaneously heightened appearance comparisons. In contrast, lower anthropomorphism elicited stronger objectification, as less humanlike bodies were treated with reduced moral concern. These findings indicate that anthropomorphism produces dual and contradictory outcomes: while it can mitigate objectified views of women’s bodies, it also amplifies harmful appearance comparisons that undermine body image and well-being. The study underscores the need for responsible VI design, incorporating diverse body shapes, races, and ethnicities, and calls for further research on mediating roles of appearance schema.

Author(s): Jeeweon Wee, Yoon-Jung Lee

This study analyzes wage disparities among LGBTQ+ individuals using "Human Capital Theory" and "Intersectionality Theory". A survey of U.S. adults and multinomial logistic regression are used to test whether LGBTQ+ workers face wage penalties even after controlling for education and experience, and how job insecurity makes these disadvantages worse. The results show that when jobs are stable, the gap is small, but when job insecurity is high, LGBTQ+ individuals are much more likely to fall into the lowest wage group. In other words, wage inequality is most severe when LGBTQ+ identity and job insecurity overlap. Such low wages are not only about unfairness at work. They also weaken household finances, limit access to basic needs such as housing, food, and healthcare, and make it harder to save for retirement or build long-term security. This study shows that wage inequality is not only a labor market issue but also a structural problem that harms consumer and family well-being.

Author(s): Jake G. Zavala Zavala, Hye-Jun Park, Wookjae Heo

Gamification is increasingly embedded in consumers’ daily lives, from fitness tracking to language learning, with the promise of driving engagement and motivation. Yet, despite its growing prevalence and celebrated benefits, less is known about its potential downside for consumer well-being. This research investigates the unintended consequences of gamification, focusing on its capacity to induce consumer distress. Using a multi-study mixed-method approach, we integrate insights from in-depth interviews, an online survey, a scenario-based experiment and a longitudinal field study to examine how achievement- and social-oriented gamification features affect consumer distress. Our findings reveal that gamification can foster distress, particularly among consumers with a strong outcome goal orientation and low to moderate self-esteem. Qualitative results further highlight the amplifying role of distance to goal, while excessive engagement with features, manifesting in compulsive thoughts and over-involvement, emerges as a key mechanism driving distress. By moving beyond the dominant focus on gamification’s positive outcomes, this research advances understanding of unintended consumer outcomes and underscores the need for more mindful design and use of gamified technologies. Implications extend to consumers, companies, and policymakers alike, calling for education, supportive design, and protective policies to ensure that gamification serves consumer well-being rather than eroding it.

Author(s): Lisa Baiwir, Laurence Dessart, Cécile Delcourt

This study examines the relationship between financial capability and vulnerability to financial fraud, with a focus on perceived targeting and actual financial loss. Using nationally representative data from the 2024 National Financial Capability Study (N = 21,980), we estimate logistic regression models to assess the effects of objective and subjective financial knowledge and financial education across diverse demographic groups. Results reveal that individuals with greater objective financial knowledge and formal financial education are more likely to perceive themselves as fraud targets, suggesting heightened awareness and detection. At the same time, both knowledge and education significantly reduce the likelihood of experiencing monetary loss among those targeted, underscoring their protective role. In contrast, subjective financial knowledge does not predict either targeting or loss, highlighting potential overconfidence risks. Additional analyses indicate that high school–based financial education is particularly effective in reducing financial loss, while employer or multi-source education primarily increases fraud awareness. Findings emphasize the importance of distinguishing between psychological and material dimensions of fraud and suggest that policy initiatives should prioritize expanding structured financial education, especially at early stages, to build resilience against fraud.

Author(s):Kyoung Tae Kim, Jonghee Lee, Sunwoo Lee

Mobile fintech (e.g., banking and payment) has become increasingly prevalent due to its convenience in managing personal finance, but it also raises concerns about increasing exposure to financial fraud and scams. This study utilized the 2024 wave of the State-by-State National Financial Capability Survey (NFCS) dataset from FINRA, conducting logistic regressions and ad-hoc subgroup analyses based on age to examine the relationship between mobile fintech adoption (both general usage and each service) and the likelihood of perceiving fraud targeting and actual financial loss. The results indicate that mobile fintech users are more likely to perceive themselves as target of financial fraud, and conditioned on perception, more likely to suffer from financial loss. The results were also confirmed by the ad-hoc subgroup analysis. These findings called for the need for consumer protection and financial education regarding the diversified mobile fintech services and possible fraud or scam exposures that may emerge, and provided practical implications for financial practitioners and policymakers.

Author(s):Yeqi Zhu, Lu Fan

The determinants of financial awareness are a widely researched area in consumer economics and related fields. Financial awareness is usually measured using a Likert scale-based variable, with the various levels of the variable indicating the underlying latent utility, which is unobserved. Given the discrete nature of the financial awareness variable, it is not possible to use methods such as quantile regression methods to capture how changes in a covariate affect different quantiles of the financial awareness variable in its Likert-scale form. In this study, we utilize ideas from the Bayesian econometrics literature to uncover the underlying latent utility for the Likert measured financial awareness variable. Specifically, Albert and Chib (1993) outlined how one can uncover the underlying latent utility in both a standard and ordered probit model using the Gibbs sampler. We then use quantile regression methods to examine the relationship between commonly used covariates and the transformed latent utility representation of financial awareness. Using a quantile regression method allows for a more nuanced explanation of how changes in covariates affect the dependent variable.

Author(s): Nasima Khatun, Sandra Huston, Donald Lacombe

Stress proliferation and adaptation hypotheses explain the coping processes for marital satisfaction during periods of economic adversity. However, empirical studies have less explored crucial consumer-related coping mechanisms, such as financial resilience and financial disagreement. Furthermore, consumer heterogeneity in marital dyads suggests greater complexity of financial coping, while this perspective lacks empirical examination and advanced modeling. This study utilized national survey data on Chinese couples (N = 912 pairs) and conducted structural equation modeling in single-level, multi-group, and multilevel approaches to examining the hypothesized pathways differentiated by dyadic responses (household heads and partners), sociodemographic subgroups (36 nested model comparisons), and cross-level mediation and moderation effects considering within- and between-couple features (18 models in 2-2-1 patterns). Consistently significant and stronger indirect effects of economic adversity on marital satisfaction via financial resilience than financial disagreement highlight the importance of positive financial coping processes on consumers’ marital well-being in weathering external economic shocks.

Author(s): Zewei Liu, Ji-Kang Chen

Floods are the most frequent and severe natural disasters in the U.S., and their occurrence is expected to increase (Wing et al., 2022). By combining and aggregating household characteristics from NFCS data with flood events from NOAA data at the county level between 2007 and 2023, this study finds evidence that households have some capacity to anticipate future flood damages to property and are more likely to hold precautionary savings. In contrast, there is insufficient evidence that flood frequency plays a significant role in the propensity to hold precautionary savings. Specifically, if property damage is expected to double over the next two years, the proportion of households with emergency savings in an average county increases by 0.12%. The two-way fixed-effects estimation controls for county and time factors, in addition to the included control variables.

Author(s): Juan Sandoval, Patryk Babiarz

This study examines generational differences in emergency fund savings adequacy between Millennial (born 1981-1996) and Generation X (born 1965-1980) households using 2022 Survey of Consumer Finances data. Using Precautionary Savings Theory as the conceptual framework, this research analyzes how income uncertainty, risk aversion, and borrowing constraints influence emergency fund adequacy across 2-, 3-, and 6-month savings thresholds. The sample includes 11,675 households: 6,705 Gen-X and 4,970 Millennials. Chi-square analysis reveals statistically significant generational differences with Gen-X consistently outperforming Millennials across all thresholds. At the 6-month comprehensive measure, Gen-X demonstrates 23.0% adequacy compared to Millennials' 19.0%. For Gen-X, homeownership dramatically increases odds across all thresholds while for Millennials, spending less than income proves most critical at the 2-month. These findings suggest that financial education programs, professional recommendations, and policy interventions should adopt generation-specific approaches rather than universal strategies. The research highlights the importance of understanding generational contexts when developing emergency fund guidelines and financial wellness programs.

Author(s): Mo Buckner, Mindy Joseph

Pregnancy and the postpartum experiences represent transformative stagesof a woman’s life that, in some cases, are accompanied by mental health challenges. In the transition from pregnancy to postpartum, the focus shifts from the mother to the baby, potentially leaving the woman to feel alone andoverlooked in navigating the complex emotional and physical challenges of recovering from childbirth and caring for a small human. In this study, we argue that the mental health and well-being of a pregnant or postpartum woman is shaped by the level and type of supportive relationships they have(i.e, interpersonal versus healthcare provider) because such supportive relationships promote psychological energy required for their task. Using data from the 2025 Pregnancy Journey Survey, this study examines the association between having supportive interpersonal and healthcare provider relationships and the woman’s mental health, and whether these associations are mediated by the satisfaction of their basic psychological needs for competence, autonomy, and belonging.

Author(s):Grace Palmer, Dee Warmath

Drawing on stress buffering and amplification frameworks, we used data from the Health and Retirement Study, a nationally representative population-based longitudinal survey of U.S. older adults to evaluate (1) the extent to which older adults experiencing financial hardship differ with respect to depressive symptoms; (2) whether these associations are buffered or amplified by partner/spouse support and strain, respectively; and (3) whether the purported stress buffering and amplifying roles of romantic relationships vary by sense of purpose in life. Analyses were adjusted for demographic and socioeconomic status indicators, and health conditions that are well-established correlates of financial hardship and depressive symptoms. Understanding these dynamics may inform interventions that leverage relational and psychological resources to protect mental health under financial stress.

Author(s): Shinae Choi, Matthew Scarpelli

This study investigates the relationship between material hardship and population-level mental health outcomes, focusing on depression and frequent mental distress (FMD). Drawing on the stress process framework, we examine whether risky health behaviors—smoking, binge drinking, and physical inactivity—mediate these associations. We constructed a geo-coded dataset by merging tract-level estimates from the 2024 CDC PLACES release with sociodemographic indicators from the 2022 American Community Survey. Structural Equation Models (SEMs) were estimated with a latent construct of material hardship composed of housing instability, utility threats, transportation barriers, SNAP reliance, and lack of insurance. Results show that material hardship is associated with higher prevalence of depression and FMD. Smoking emerges as a key mediator, exerting a large and positive indirect effect, while binge drinking and physical inactivity exhibited negative effects that modestly attenuate overall associations. These findings highlight smoking as a critical behavioral pathway linking hardship to mental health burdens. This study calls for coupling economic supports with integrated behavioral health interventions and expanding smoking cessation and physical activity programs to reduce the mental health effects of economic hardship.

Author(s): Youngjoo Choung, Swarn Chatterjee, Tae-Young Pak

This study investigates how consumers update their perceptions of flood risk and make financial protection decisions in an era of intensifying climate change. Using monthly county-level data from the National Flood Insurance Program (NFIP), FEMA disaster records, climate datasets, and text-based measures of national media coverage, we analyze how four types of information—local floods, extreme precipitation, disasters in other states, and climate-related media—shape household uptake of flood insurance. Results show that indirect exposure to out-of-state disasters explains more than half of the variation in insurance adoption, while local floods and extreme precipitation also play significant roles. Media coverage contributes more modestly overall but has strong effects when focused on global warming or climate controversies, particularly in high-education and higher-income communities. In contrast, households in lower-education, high-risk areas respond primarily to direct flood experiences. These findings highlight the dynamic and heterogeneous ways consumers process information, underscoring the need for communication and policy strategies that are tailored to diverse populations. By centering consumer well-being and equity, the study offers actionable insights for improving risk communication, strengthening the National Flood Insurance Program, and supporting household financial resilience against climate-related disasters.

Author(s): Yilan Xu, Yi Huang

This study examines consumer acceptance of refurbished durables in Korea using a two-part design that links behavioral intention to the minimum discount required to switch from new to refurbished. Using an online panel of adults and a massage-chair category frame, we model purchase intention with explainable machine-learning and report SHAP attributions for attitudes toward refurbishment and attribute-importance items (price, warranty, hygiene, seller credibility, reviews, performance, appearance). We then elicit willingness-to-accept (WTA) using a double-bounded dichotomous-choice sequence and estimate the discount distribution via interval-censored accelerated failure-time models. Results show attitudes toward refurbished products as the dominant positive driver of intention, while stronger concerns about hygiene and warranty increase the discount required. The model-based median WTA is approximately 15% off list price, with meaningful heterogeneity across segments. Findings provide actionable pricing, assurance, and labeling guidance for firms and policy makers seeking to expand trustworthy refurbished channels that improve affordability and sustainability without compromising perceived quality.

Author(s): Yuhyun Seo, Eunjung Lim, Eunsil Hong, Jiyeon Son