Marketing decision makers are confronted with an increasing amount of information. This leads to a complex decision environment that may cause decision makers to lapse into using mental-effort-reducing heuristics such as anchoring and adjustment. In an experimental study, we find that the use of...

Based on measurements among 332 owner-managers, we investigate how the global shape of the utility function (i.e., S-shaped versus concave or convex over the total range of outcomes) relates to choice behavior. We find that the global shape of the utility function differs across decision makers...

In a field study, the concept of intrinsic risk attitude is investigated. Intrinsic risk attitude concerns the relationship between risk attitude, measured by the utility function u(x), and strength of preference, measured by the value function v(x). We study farmers' decision-making vis-à-vis...

This study validates Rossiter and Percy's (1987) hook theory of presenter characteristics, for celebrity presenters. Firstly, by employing a product-alone control group, the study demonstrates that some celebrity-product pairings have a good fit and can persuade whereas others have no effect or...

In the first decade of consumer neuroscience, strong progress has been made in understanding how neuroscience can inform consumer decision making. Here, we sketch the development of this discipline and compare it to that of the adjacent field of neuroeconomics. We describe three new frontiers...