Chapter 11 Fundamentals of Conditional Process Analysis
On page 395, Hayes dropped the bomb:
Thus far in this book, mediation and moderation have been treated as distinct, separate, and independent concepts with different analytical procedures and interpretations. Yet processes modeled with mediation analysis likely are contingent and hence moderated, in that they operate differently for different people or in different contexts or circumstances. A more complete analysis, therefore, should attempt to model the mechanisms at work linking \(X\) to \(Y\) while simultaneously allowing those effects to be contingent on context, circumstance, or individual differences.