Sachin Banker's research while affiliated with University of Utah and other places

Publications (11)

Article
Full-text available
The rapid spread of COVID-19 has emphasized the need for effective health communications to coordinate individual behavior and mitigate disease transmission. Facing a pandemic, individuals may be driven to adopt public health recommendations based on both self-interested desires to protect oneself and prosocial desires to protect others. Although m...
Article
Full-text available
The growing popularity of bitcoin presents novel research questions related to pricing. Unlike cheques or cards which merely function as alternative methods of payment to cash, bitcoin could also work as an alternative way to denominate prices. In the current research, we examine the effect of price denomination in bitcoin (i.e., setting the price...
Article
Full-text available
The relation between religiosity and well-being is one of the most researched topics in the psychology of religion, yet the directionality and robustness of the effect remains debated. Here, we adopted a many-analysts approach to assess the robustness of this relation based on a new cross-cultural dataset (N = 10, 535 participants from 24 countries...
Article
Full-text available
Credit cards have often been blamed for consumer overspending and for the growth in household debt. Indeed, laboratory studies of purchase behavior have shown that credit cards can facilitate spending in ways that are difficult to justify on purely financial grounds. However, the psychological mechanisms behind this spending facilitation effect rem...
Article
The rapid spread of COVID-19 has emphasized the need for effective health communications to coordinate individual behavior and mitigate disease transmission. Facing a pandemic, individuals may be driven to adopt public health recommendations based on both self-interested desires to protect oneself and prosocial desires to protect others. Although m...
Article
One’s personal identity can play an important role in decision-making. We propose that a key identity that shapes behavior among poor populations is conceptualizing oneself as financially insecure, which we term “poverty identity.” Two experiments suggest that this identity can influence one’s propensity to engage in challenging tasks. We first dem...
Article
Products bearing premium brand labels are known to increase perceptions of efficacy and improve objective consumer performance relative to lesser‐branded equivalents, in what is traditionally described as a marketing placebo effect. In this paper, we suggest that experiences bearing these highly‐regarded brand labels can lead to a reverse effect, s...
Article
Consumers increasingly encounter recommender systems when making consumption decisions of all kinds. While numerous efforts have aimed to improve the quality of algorithm-generated recommendations, evidence has indicated that people often remain averse to superior algorithmic sources of information in favor of their own personal intuitions (a type...
Article
Self-control depletion has been linked both to increased selfish behavior and increased susceptibility to situational cues. The present research tested two competing hypotheses about the consequence of depletion by measuring how people allocate rewards between themselves and another person. Seven experiments analyzed behavior in standard dictator g...

Citations

... However, these authors found that impacts on intentions did not translate into equivalent impacts on actions. Banker and Park (2020), in an experiment on Facebook during the first weeks of the pandemic, tested the effectiveness of three types of messages: distant prosocial frame ("protect your community"), self-focused frame ("protect yourself"), and narrow prosocial frame ("protect your loved ones"). The distant prosocial frame was significantly less effective at eliciting click-through than the self-focused frame, which obtained as many clicks as the narrow prosocial frame. ...
... This may seem like a cop-out to some, but in my opinion there's no need to be prescriptive about whether or not to go with standardized effect sizes, as long as it's clear from the reporting what variance was used in standardization. Zooming out a bit: A lot of what has come up in all discussions here has reminded me of the slew of manyanalyst papers we have seen (e.g., Silberzahn et al., in press;Hoogeveen et al., 2022;Dongen et al., 2019). Some may feel there's a "best" approach in these kinds of papers, but to me it seems that as long as the analytical strategy is clearly reported and well-argued, there can be many feasible strategies (even if the outcomes are very different). ...
... Evidenced by countries such as El Salvador and Central African Republic adopting bitcoin as legal tender, growing merchant partnerships (Bambysheva, 2022), and wider consumer adoption of cryptocurrencies more generally, digital currencies are quickly entering the marketplace. A large body of existing research has established that non-cash payment methods such as credit and debit cards can indeed change consumer behavior: they increase spending (Banker et al., 2021;Hirschman, 1979;Prelec & Simester, 2001;Raghubir & Srivastava, 2008;Soman, 2003), drive greater purchase of vice goods (Park et al., 2020;Thomas et al., 2011), and decrease post-transactional connection (Shah et al., 2016). Does the growing adoption of bitcoin in the payment system merely mean there is another non-cash payment method or does a unique attribute of bitcoin present researchers with novel hypotheses to test? ...
... Given the cognitive biases such as confirmation bias [45] and egocentrism [41], self-referencing messages (i.e., messages focusing on what might happen to the audience themselves) might result in biased processing and attitude polarization. There has been evidence that other-benefiting strategies might be more efficacious [6]. That is, messages delivered to this group should highlight how vaccination behaviors would benefit others who are innocent and helpless because they cannot receive the vaccine due to medical or religious reasons or there are no vaccines available for them (e.g., children under 5). ...
... Another possibility is to strengthen willpower through psychologically grounded interventions that are effective even in persistent states of poverty (Banker et al., 2020;Duckworth et al., 2018). Such tools are likely relevant to counteract the negative effects of monetary and health challenges on the demand of lower-income consumers for healthy foods. ...
... It is, of course, possible for brands to negatively affect performance. Nike golf lessons might actually increase anxiety (Banker et al., 2019b) and there can be individual differences in reactions to brands (John and Park, 2016;Park and John, 2014), but taken together these studies underscore the potential for brands to create value. ...
... They also tend to dissociate with brands that impede their desired image to the outside world. Studies analysed in this review have also studied attachment anxiety (Mende et al., 2019;Proksch et al., 2013;Thomson et al., 2012;Vlachos et al., 2010) and performance/task-related anxiety (Banker et al., 2020;Garvey et al., 2016). Attachment anxiety occurs when a person is worried about being abandoned (Brennan et al., 1998). ...
... Ultimately, assuming that privacy is dead is likely not productive, as we as a society decide through our laws what is permissible and acceptable, including the scope of surveillance and privacy erosion. Also, while there are many ethical challenges to solve, it is also clear that mass personalization, resulting from AI use, has a lot of social good potential as well (Hermann 2021;Banker and Khetani 2019). ...
... Known in decision-making are psychological traps, into which every manager can easily fall when making a decision if he does not respect the slowdown. An anchorage trap is common, as is evident in the current crisis (Downen et al., 2019;Banker et al., 2017). It means a tendency to focus on certain information, impressions as a central element, and consequently it is not possible to adjust the opinion accordingly to the subsequent information. ...