<p>Cultural consumption is not only a new engine of economic growth, but also an amplifier of social sentiment and collective identity. Its symbolic value and entertainment experience value are closely related to people's emotions, so that emotional fluctuations can play a key role in the cultural consumption market. Different from previous studies that focus on individuals, this study is directly based on the macro group emotions and explores how the positive and negative emotions of the group affect the overall cultural consumption. This study applies macro panel data of 63 countries, incorporates positive and negative emotions into the hyperbolic discounting framework, and directly quantifies consumers' cultural consumption behaviors. The results show that the impacts of emotions on cultural consumption behavior are nonlinear: the impact of positive emotions is U-shaped, and the impact of negative emotions is inverted U-shaped. After distinguishing different consumption behavior groups, the influence of the two emotions on cultural consumption also shows their differences: the high overconsumption group is more sensitive to negative emotions, the low overconsumption group, the low underconsumption group, and the high underconsumption group are more sensitive to positive emotions. Except for the low underconsumption group, the emotional effects of the other three groups are inverted U-shaped. The results reveal the heterogeneous response patterns of groups with different cultural consumption behaviors to two types of emotions, which is helpful to more comprehensively understand the difference in the impacts of emotions on consumption behaviors at the group level.</p>

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Positive emotions, negative emotions and cultural consumption——empirical analysis based on the hyperbolic discounting model

  • Jiaqi Deng,
  • Zichang Gao

摘要

Cultural consumption is not only a new engine of economic growth, but also an amplifier of social sentiment and collective identity. Its symbolic value and entertainment experience value are closely related to people's emotions, so that emotional fluctuations can play a key role in the cultural consumption market. Different from previous studies that focus on individuals, this study is directly based on the macro group emotions and explores how the positive and negative emotions of the group affect the overall cultural consumption. This study applies macro panel data of 63 countries, incorporates positive and negative emotions into the hyperbolic discounting framework, and directly quantifies consumers' cultural consumption behaviors. The results show that the impacts of emotions on cultural consumption behavior are nonlinear: the impact of positive emotions is U-shaped, and the impact of negative emotions is inverted U-shaped. After distinguishing different consumption behavior groups, the influence of the two emotions on cultural consumption also shows their differences: the high overconsumption group is more sensitive to negative emotions, the low overconsumption group, the low underconsumption group, and the high underconsumption group are more sensitive to positive emotions. Except for the low underconsumption group, the emotional effects of the other three groups are inverted U-shaped. The results reveal the heterogeneous response patterns of groups with different cultural consumption behaviors to two types of emotions, which is helpful to more comprehensively understand the difference in the impacts of emotions on consumption behaviors at the group level.