Consumer Wisdom: A Theoretical Framework of Five Integrated Facets
ABSTRACT: We establish a parsimonious theoretical framework of consumer wisdom based on five mutually reinforcing psychological facets. Our research draws from wisdom literature and a set of 31 phenomenological interviews with informants who were identified through a multi-stage nomination process. The five facets of consumer wisdom that emerged are Intentionality, Contemplation, Emotional Mastery, Openness, and Transcendence.
The article includes a detailed set of "wise consumption" practices, organized using the proposed theoretical framework.