A Research Agenda for Economic Psychology
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A Research Agenda for Economic Psychology

Edited by Katharina Gangl and Erich Kirchler

This book presents state of the art reviews on classical and novel research fields in economic psychology. Internationally acknowledged experts and the next generation of younger researchers summarize the knowledge in their fields and outline promising avenues of future research. Chapters include fundamental as well as applied research topics such as the psychology of money, experience-based product design and the enhancement of financial capabilities. The book is targeted particularly towards researchers and advanced students looking to update their knowledge and refresh their thinking on future research developments.
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Chapter 6: Psychology in product design

Sarah Diefenbach and Marc Hassenzahl


Nowadays products almost always consist of combinations of material artefacts and immaterial services or even experiences. Product-service systems such as DriveNow are exemplary of this trend, and even purely non-digital products (e.g., beach towels) are often promoted and experienced in an extended, digital way, through, for example, their web presence. As a consequence, experiential value becomes an increasingly important aspect of product development and business success, and psychology plays an increasingly important role in product design. This applies especially to the digital domain, where interactivity and technological progress provide opportunities for new business models and approaches to marketing. In this chapter, the authors discuss the increasing importance of psychology in product design and particularly in the domain of interactive products, its interplay with a more general experiential shift in product design and marketing, as well as challenges and insights from a methodological perspective. They conclude with a short summary and discussion of future steps for product design in the context of economic psychology.

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