A Self-Regulatory Model of Resource Scarcity

Academics have shown a growing interest in understanding how resource scarcity impacts consumer psychology. However, to date, no overarching theory exists to help explain the breadth of findings surrounding resource scarcity. To address this theoretical gap, we propose a self-regulatory model of resource scarcity based on the notion that humans are motivated to reduce the discrepancy between one’s current level of resources and a more desirable level of resources. In this model, we propose that consumers cope with resource scarcity through two distinct psychological pathways: a discrepancy-reduction route aimed at directly resolving the discrepancy and a discrepancy-compensation route that compensates for the discrepancy by enhancing the self in other domains. We also offer a variety of theoretically driven moderators that determine which of the two routes is more likely to be adopted in response to resource scarcity. Finally, we conclude with a research agenda for consumer behavior researchers interested in contributing to a more nuanced understanding of the psychology of resource scarcity.