Effects of luck beliefs on consumers’ variety-seeking behavior

From a risk perspective and using the courage–ability–willingness theory in relation to consumer choice, we built a model with luck beliefs as the independent variable, psychological security and self-efficacy as mediating variables, optimum stimulation level as the moderating variable, and variety seeking as the outcome variable. We conducted an online survey and analyzed data from 593 participants using structural equation modeling. The results show that personal luckiness and belief in luck positively affected variety seeking, psychological security and self-efficacy mediated the influence of luck beliefs on variety seeking, and optimum stimulation level positively affected variety seeking and positively moderated the effect of personal luck on variety seeking. However, the moderating effect of belief in luck on variety seeking was nonsignificant. Practical and theoretical implications of the findings are discussed.