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Media Advisory 10-031
Black Friday: Tightwads and Spendthrifts An NSF Webcast

How do people decide whether or not to spend money?

On left, image of hands holding scissors cutting a bill, on right hands holding a wad of bills.

NSF examines the impact of consumerism on tightwads and spendthrifts during the holidays.
Credit and Larger Version

November 12, 2010

Consumers often behave differently than they would ideally like to behave. So says University of Michigan Marketing professor Scott Rick, an expert on the emotional causes and consequences of spending money. But what happens to people who are tightwads and spendthrifts during the holiday buying season when faced with numerous sales that seem too good to be true? Does being a tightwad or a spendthrift influence buying decisions?

Black Friday, the day after Thanksgiving that traditionally begins the holiday shopping season, is fast approaching and the National Science Foundation is taking a look at the impact of consumerism on tightwads and spendthrifts during the holidays when the pressure to buy increases.

  • What exactly is a tightwad or a spendthrift?
  • How do individuals make decisions about holiday buying choices?
  • Do sale prices boost holiday buying or is there something more?
  • How do frugal spenders respond to requirements to buy holiday gifts?
  • Do compulsive shoppers spend even more when confronted with sale prices?

Join Scott Rick as he discusses "Black Friday: Tightwads and Spendthrifts" in an NSF webcast on Tuesday, November 16 at 11:30 a.m. EST.

Who:Scott Rick, University of Michigan Marketing professor.

What:Live teleconference and webcast with journalists.

When:Tuesday, November 16, 2010, 11:30 a.m. EST.

Where:Media are invited to participate in the webcast by phone or online on the Science360 website. (Note: the URL will only be live during the event.) Please contact webcast@nsf.gov for phone number and passcode information. Scott Rick will respond to questions from the media throughout the webcast.

Media are encouraged to direct questions before and during the webcast to webcast@nsf.gov.

-NSF-

Media Contacts
Bobbie Mixon, NSF, (703) 292-8485, bmixon@nsf.gov

Program Contacts
Jacqueline Meszaros, NSF, (703) 292-7261, jmeszaro@nsf.gov

Principal Investigators
Scott Rick, University of Michigan, (713) 252-5654, srick@umich.edu

The National Science Foundation (NSF) is an independent federal agency that supports fundamental research and education across all fields of science and engineering. In fiscal year (FY) 2014, its budget is $7.2 billion. NSF funds reach all 50 states through grants to nearly 2,000 colleges, universities and other institutions. Each year, NSF receives about 50,000 competitive requests for funding, and makes about 11,500 new funding awards. NSF also awards about $593 million in professional and service contracts yearly.

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