Effect Of Exchange Rate Between Virtual Money And Real Currency On Spending Money

Online games become more and more prevalent, which popularizevirtual money in our lives. Nowadays, we can find that the exchange ratesbetween virtual money and real currency vary a lot. The differences ofexchange rates would effect consumers’ spending money. Starting from thetheory of money illusion, this article takes a comprehensive literaturereview, including the effect of exchange rate between different sorts ofcurrencies in real world on spending behavior. This article raised the mainassumption that as the exchange rate (the number of virtual moneytransferred from per unit of real money) increased, the amount of realmoney actually paid will go up at first, and then turn to go down. Inaddition, the feeling of how rich the customer is would act as a mediatingfactor, and time pressure would act as a moderating factor. In order toprove these assuptions, this article designed two experiments in whichsubjects were guided to imagine QQ show scene. In experiment1, themain effect of exchange rate between virtual money and real currency onspending money as well as the mediation effect was proved. In experiment2, this airticle has found time pressure performed as a moderating factor,and the main effect was proved again. The results of this airticle wouldhave not only theoretical significance for enriching related theory, but alsopractical significance for online game makers.