Doctoral Student

Grant Edward Donnelly

Grant is a second-year doctoral student in the Marketing Unit at Harvard Business School.

He studies financial decision-making with a specific interest in improving consumer welfare. In one working paper, Grant and his coauthors look at what might happen if consumers were able to make payments towards specific purchases rather than the total balance. Their results show significantly higher repayments made when consumers are able to 'eliminate a line item' from their debt.

Grant is also interested in the ways in which consumers seek escape awareness of their financial situation.

Grant received his B.A. in Enviornmental Science (Urban Design) from San Francisco State in 2005 and a M.A. in Psychological Research (Mind, Brain & Behavior) from San Francisco State in 2013.
Grant is a second-year doctoral student in the Marketing Unit at Harvard Business School.

He studies financial decision-making with a specific interest in improving consumer welfare. In one working paper, Grant and his coauthors look at what might happen if consumers were able to make payments towards specific purchases rather than the total balance. Their results show significantly higher repayments made when consumers are able to 'eliminate a line item' from their debt. 

Grant is also interested in the ways in which consumers seek escape awareness of their financial situation.

Grant received his B.A. in Enviornmental Science (Urban Design) from San Francisco State in 2005 and a M.A. in Psychological Research (Mind, Brain & Behavior) from San Francisco State in 2013.

Journal Articles

  1. Sadness, Identity, and Plastic in Over-shopping: The Interplay of Materialism, Poor Credit Management, and Emotional Buying Motives in Predicting Compulsive Buying

    Grant Edward Donnelly, Masha Ksendzova and Ryan Howell

    A comprehensive study is currently lacking to explain why material values strongly influence compulsive buying. The goal of the current study is to test if money management, buying motivations for improving mood and identity, and self-transformation expectations mediate the link from material values to compulsive buying. In one sample (N = 1077) we find, as expected, that materialism correlates positively with compulsive buying and that a lack of money management mediates the path from materialism to compulsive buying. In a second sample (N = 650) we find that, specifically, it is the poor credit management of materialists that most strongly mediates this relation. Further, emotional buying motives (i.e., shopping in order to improve one’s mood) and transformation expectations also mediate the relationship between materialism and compulsive buying. Thus, the tendency of materialists to (a) not manage their credit, (b) believe that their purchases will transform their lives, and (c) make purchases for emotional reasons completely explains their greater frequency of compulsive buying.

    Keywords: Credit Cards; Consumer Behavior; Identity; Emotions;

    Citation:

    Donnelly, Grant Edward, Masha Ksendzova, and Ryan Howell. "Sadness, Identity, and Plastic in Over-shopping: The Interplay of Materialism, Poor Credit Management, and Emotional Buying Motives in Predicting Compulsive Buying."Journal of Economic Psychology 39 (December 2013): 113–125. View Details
  2. The Big Five Personality Traits, Material Values, and Financial Well-being of Self-described Money Managers

    Grant Edward Donnelly, Ravi Iyer and Ryan Howell

    Previous research has linked personality traits, material values, and money management to savings, debt, and compulsive buying. To extend previous research, four online surveys examined the Big Five personality traits and material values of those who manage their money and determined the independent effects of money management on wealth, debt, and compulsive buying. Results suggest that (a) individuals who believe that material possessions can provide happiness manage their money less and (b) highly conscientious individuals manage their money more because they have positive financial attitudes as well as a future orientation. Further, money management is significantly related to increased savings, decreased debt, and less compulsive buying even after controlling for numerous socio-demographic and dispositional variables. In the Discussion we suggest that materialists may experience a 'pain of knowing' about their finances because money management may highlight the discouraging implications of their purchasing behavior.

    Keywords: values; money; well-being;

    Citation:

    Donnelly, Grant Edward, Ravi Iyer, and Ryan Howell. "The Big Five Personality Traits, Material Values, and Financial Well-being of Self-described Money Managers."Journal of Economic Psychology 33, no. 6 (December 2012): 1129–1144. View Details