The thrill of victory, the agony of defeat: Personality, perceptions of price (Un)fairness, emotions, and price satisfaction

Although shopping and bargaining are known to have important emotional implications, the literatures on perceptions of price (un)fairness and price satisfaction emphasize their cognitive antecedents, content, and consequences and largely disregard the roles of emotions. Some limited research has considered negative emotions' relationships to price unfairness. On the other hand, research has shown that both positive and negative consumption-related emotions predict global customer satisfaction, and enduring personality traits have been shown to influence those consumption-related emotions. We propose and test a model in which perceptions of price (un)fairness and personality traits influence emotional responses to price which, in turn, influence price satisfaction. These findings integrate robust individual differences and positive as well as negative emotions into understandings of perceptions of price (un)fairness and price satisfaction, and demonstrate that emotions play a central role in consumers' responses to price.