Using a combination of cross-sectional and archival data analysis as well as experimental (online and laboratory) studies, this dissertation investigates how different self-threats affect consumer behavior in a compensatory manner. More specifically, this thesis is focused on particular types of external (disease threat, stress) and internal (age identity threat, self-efficacy threats) self-threats and investigates how consumers respond to them by engaging in different compensatory behaviors, particularly in nostalgic consumption (Chapters 2, 4), novelty seeking (Chapter 3), and consumption of functional foods (Chapter 5). The first two chapters (Chapters 2 and 3) investigate examine the impact of external self-threats on consumer compensatory behavior. Specifically, Chapter 2 explores how disease threats can lead people to nostalgic product choices, and Chapter 3 examines how stress as a response to a threat can cause consumers to engage in novelty seeking. The next two chapters (Chapters 4 and 5) examine the impact of internal threats to the self on consumer responses. In particular, Chapter 4 focuses on how the age identity threat can lead to nostalgic product choices, and Chapter 5 investigates how self-efficacy threats can motivate people to engage in functional food consumption. Taken together, the present findings demonstrate that consumer decisions are shaped both by internal and external self-threats in various contexts and in some cases depending on individual factors, leading to a more nuanced understanding of consumers’ choice behavior. This increased understanding, in turn, might aid in improving consumers’ welfare and wellbeing.