Crypto freedom! Effects of trait reactance and regulation content on intention to buy cryptocurrency

【Author】 Martin, Brett A. S.; Chrysochou, Polymeros; Strong, Carolyn

【Source】PERSONALITY AND INDIVIDUAL DIFFERENCES

【影响因子】3.950

【Abstract】Cryptocurrencies like Bitcoin have attracted billions in investment in a short period of time. Currently, there is a move to introduce regulations for crypto trading. The purpose of the current research was to study the effect of trait reactance and messages about freedom-protecting (vs. freedom-restricting) crypto regulations on an individual's attitude toward cryptocurrency and buying intention. The following mediators were examined: (1) positive affect and (2) negative affect (i.e., anger). A total of 566 people took part in a 2 (regulation content: freedom-protecting vs. freedom-restricting) x trait reactance (continuous) between-participants design. The freedom message emphasized that regulations would support an individual investor's right to invest in crypto. The restriction message stated that crypto trading would be restricted to professional investors. Trait reactance was measured with Hong and Page's (1989) Psychological Reactance scale. Results indicated that trait reactance had a positive effect on state reactance and positive affect. The effect of trait reactance on crypto buying intention was mediated by positive affect and anger. Freedom (vs. restriction) messages were associated with an increase in positive affect and decrease in anger. Freedom messages about crypto investing generate a more positive response than messages outlining restrictions to crypto investing.

【Keywords】Trait reactance; Psychological reactance; Positive affect; Regulations; Bitcoin; Crypto; Cryptocurrency

【发表时间】2022 AUG

【收录时间】2022-07-25

【文献类型】理论性文章

【主题类别】

区块链治理-法律治理-数字货币监管