Results of three experiments reveal that consumers place a higher economic valuation on dogs versus cats, as evidenced by willingness to pay more for life-saving surgery, medical expenses, and specialty pet products, as well as increased word-of-mouth about the pet. This effect is explained by consumers’ enhanced psychological ownership of and resulting emotional attachment to the pet. The effect is reversed when a dog acts like a cat and a cat acts like a dog and is due to the perceived ability to control the animal’s behavior rather than other attributes intrinsic to the pet. This research offers a first look at psychological ownership of a living creature and its effect on economic valuation.

Introduction

Pet ownership is a phenomenon of contemporary life, and pets are big business. 68% of all U.S. households own a pet, with 48% owning at least one dog and 38% at least one cat. The U.S. pet market exceeds $70 billion in revenues (APPA, 2018), and a typical dog or cat owner will spend $25,000 to $35,000 on the pet over the course of its lifetime (Guzman, 2017). Consumers’ “fur-babies” are increasingly being pampered with pet-related purchases that include plastic surgery, spa treatments, and designer clothing (Haldeman, 2018). These living possessions are ever more ubiquitous in consumers’ lives, suggesting the growing interest in pet ownership in marketing research is warranted (Holbrook & Woodside, 2008). Marketing researchers have documented the relationships humans have with their pets, using a rich variety of techniques to illuminate the diverse nature of the value pets bring to consumers (Belk, 1996; Dotson & Hyatt, 2008; Downey & Ellis, 2008; Hill, Gaines, & Wilson, 2008; Hirschman, 1994; Holbrook, 2008; Holbrook, Stephens, Day, Holbrook, & Strazar, 2001; Mosteller, 2008; Woodside, 2008).