The power of DECISION REVERSIBILITY Increasingly there are alongside purchase options, rental options, although they are not always thought of as rental options. Many people rent their home. An alternative to purchasing a car is lease the car (a form of rental). White goods can be purchased or rented, as can audio-visual equipment and of […]

The power of DECISION REVERSIBILITY Increasingly there are alongside purchase options, rental options, although they are not always thought of as rental options. Many people rent their home. An alternative to purchasing a car is lease the car (a form of rental). White goods can be purchased or rented, as can audio-visual equipment and of course computers and telephones (contracts). Movies can also be rented from a video store of subscribed to online (rented). Given this trend towards rental, it is interesting to consider why people choose to buy or rent and how they assess the options. With some larger purchases like houses and motor vehicles cost prohibits purchases in some case and prestige drives purchase in others. Research suggests that with these larger purchases leases are often seen as ‘ownership’ with a view to garnering prestige. Research suggests however that the situation might be very different for smaller purchases. With…