Age differences in psychological ownership and their impact on consumer behavior: Exploring the lingering psychological ownership of relinquished possessions

This article investigates a specific situation in which individuals retain psychological ownership of certain possessions even when they no longer physically own them. This lingering psychological ownership is influenced by age and subsequently affects the repurchase behavior of individuals across different age groups toward the same brand. The illusion of control serves as the underlying mechanism for this effect. We investigate age differences in the psychological ownership of formerly owned items and the downstream effects on consumer behaviors across six experimental studies. Study 1 confirmed a negative correlation between age and psychological ownership of items people no longer possess. Studies 2 and 3 demonstrated that this negative association occurs only when individuals have relinquished items, not when they currently own them. Study 4 explored the mediation effect. Studies 5 and 6 further showed that the influence of age on psychological ownership of relinquished items affects individuals’ repurchase behavior for the same product and brand. Compared to younger adults, older adults have less illusion of control of relinquished possessions, resulting in less psychological ownership and lower levels of repurchase intentions for the same brand. This finding challenges the notion that older consumers are more nostalgic and less likely to switch brands. In contrast, younger consumers exhibit greater consumption “stickiness” to a product and are more likely to repurchase it. This article expands psychological ownership theory, exploring target object transition. It aids marketers in identifying repurchase cohorts for formerly owned items among different age groups.