Our Experts

Leadership

David Just

David Just, PhD
Director
Behavioral Marketing

Behavioral Marketing

Behavior & Sustainability




Vicki Bogan

Vicki Bogan, PhD

Behavioral Finance

Vicki is a behavioral economist, who conducts research in the areas of financial economics and behavioral finance with an emphasis on investment decision-making behavior. Her research encompasses how information costs, transaction costs, and behavioral biases affect the way people invest in their household portfolios and the way firms make financial investment choices. Vicki is also the director of The Institute for Behavioral and Household Finance, a research center which aims to study investment decision making behavior with the goal of shedding light on how to better model observed financial behavior and to inform consumer finance behavior, consumer finance related policies, and regulation.

Selected Publications
  • Bogan, V. L. (2015). Household Asset Allocation, Offspring Education, and the Sandwich Generation. American Economic Review. 105 (5), 611-615.
  • Bogan, V. L. (2014). Savings Incentives and Prices: A Study of the 529 College Savings Plan Market. Contemporary Economic Policy. 32 (4), 826-842.
  • Bogan, V. L. (2012). Capital Structure and Sustainability: An Empirical Study of Microfinance Institutions. The Review of Economics and Statistics. 94 (4), 1045-1058.
  • Bogan, V. and Just, D. (2009). What Drives Merger Decision Making Behavior? Don't Seek, Don't Find, and Don't Change Your Mind. Journal of Economic Behavior and Organization.72 (3), 930-943.
  • Bogan, V. (2008). Stock Market Participation and the Internet. Journal of Financial and Quantitative Analysis. 43 (1), 191-212.
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Geoff Fisher

Geoff Fisher, PhD

Behavioral Marketing

Geoff’s research is focused on marketing and neuro-economics and how individuals make choices. Specifically, he is interested in how we make decisions when we experience hot and cold states of mind. For example, how much more would you pay for something when hungry than when satiated? In addition, Geoff develops cognitive models of behavior and tests them in laboratory experiments that often make use of eye-tracking data. His research could help you decide which packaging will make customers love and buy your product!

Selected Publications
  • Intertemporal Choices Are Causally Influenced By Fluctuations in Attention. (2016) Working Paper Dyson School of Applied Economics & Management, Cornell University Ithaca, NY.
  • A Multi-Attribute Attentional Drift Diffusion Model. (2016). Working Paper Dyson School of Applied Economics & Management, Cornell University Ithaca, NY.
  • Fisher, G, & Rangel, A. (2014). Symmetry in Cold-to-Hot and Hot-to-Cold Valuation Gaps. Psychological Science, 25(1), 120-127.
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Byoung-Hyoun Hwang

Byoung-Hyoun Hwang, PhD

Behavioral Finance

Professor Hwang's research primarily examines how investors behave and how market frictions sometimes allow market prices to deviate from their corresponding fundamental values. He is also interested in how executives use social media to communicate with consumers and investors and, in turn, how investors use social media to predict future stock returns and future earnings.

Selected Publications
  • Lee, J. M., Hwang, B.H., & Chen, H. (2016). Are Founder CEOs more Overconfident than Professional CEOs? Evidence from S&P 1500 Companies. Strategic Management Journal, forthcoming.
  • Chen, H., De, P., Hu, Y., & Hwang, B.H. (2014). Wisdom of Crowds: The Value of Stock Opinions Transmitted through Social Media. Review of Financial Studies, 27(5), 1367-1403.
  • Hwang, B.H. (2011). Country-Specific Sentiment and Security Prices. Journal of Financial Economics, 100 (2), 382-401.
  • Hwang, B.H. & Kim, S. (2009). It Pays to Have Friends. Journal of Financial Economics, 93(1), 138-158.
  • Green, C. & Hwang, B.H. (2009). Price-Based Return Comovement. Journal of Financial Economics, 93(1), 37-50.
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David Just, PhD

Behavioral Marketing, Director

David is a world-renown behavioral economist. His textbook entitled "Introduction to Behavioral Economics" (2014), explains the origins and the theory behind behavioral economics. In his research David uses tools of psychology and economics to examine important ways in which misperception and emotion can drive consumer decisions. He has conducted hundreds of field and laboratory experiments identifying how to lead consumers to smarter decisions without harming retailers or suppliers. He has worked on consumer food choice with the US Department of Agriculture and Feeding America among many others. His work has been implemented in various settings and is currently influencing the daily food consumption habits of more than 50 million Americans.

Selected Publications
  • Just, D. R., & Just, R.E. (2016) Empirical Identification of Behavioral Choice Models Under Risk. American Journal of Agricultural Economics, forthcoming.
  • Just, D. R. & Hanks, A. S. (2015) The Hidden cost of Regulation: Emotional Responses to Command and Control. American Journal of Agricultural Economics, 97(5), 1385–1399.
  • Just, D.R. & Wansink, B. (2011). The Flat-rate Pricing Paradox: Conflicting Effects of 'All-You-Can-Eat' Buffet Pricing. Review of Economics and Statistics, 93(1), 193–200.
  • Wansink, B., Just, D. R., & Payne, C. R. (2009). Mindless Eating and Healthy Heuristics for the Irrational. American Economic Review, 99 (2), 165–169.
  • Just, D. R., & Payne, C. R. (2009). Obesity: Can Behavioral Economics Help? Annals of Behavioral Medicine, 38(S1), S47–S55.
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Harry Kaiser

Harry Kaiser, PhD

Behavioral Marketing

Harry conducts research in the areas of price analysis, marketing, and quantitative methods. Much of his research focuses on the market-wide economic effects of commodity advertising and promotion programs. He is interested in finding out the overall impact of advertising on consumption. Professor Kaiser has written 140 refereed journal articles, five books, 17 book chapters, over 150 research bulletins, and received $8 million in research grants in these areas. Since 1994, Professor Kaiser has been the director of the Cornell Commodity Promotion Research Program.

Selected Publications
  • Zheng, Y., Mc Laughlin, E.W. & Kaiser H.M. (2012). Taxing Food and Beverages: Theory, Evidence, and Policy. American Journal of Agricultural Economics, 95(3), 705-723.
  • Rickard, B., Liaukonyte, J., Kaiser, H.M. & Richards. T. (2011). Consumer Response to Commodity-Specific and Broad-Based Promotion Programs for Fruits and Vegetables. American Journal of Agricultural Economics. 93(5), 1312-1327.
  • Messer, K., Kaiser, H.M., & Schulze, W. (2008). The Problem with Generic Advertising: Parallelism and Possible Solutions from the Lab. American Journal of Agricultural Economics. 90(2), 540-552.
  • Messer, K., Zarghamee, H., Kaiser, H.M., & Schulze, W. (2007). New Hope for the Voluntary Contributions Mechanism: The Effects of Framing and Context. Journal of Public Economics. 91, 1783-1799.
  • Liaukonyte, J., Rickard, B.J., Kaiser, H.M., Okrent, A.M. & Richards, T.J. (2012). Economic and health effects of fruit and vegetable advertising: Evidence from lab experiments. Food Policy, 37(5), 543-553.
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Jura Liaukonyte

Jura Liaukonyte, PhD

Behavioral Marketing

Jura’s research examines how advertising (particularly advertising content) and other forms of information affect consumer choices and producer incentives. Her primary interest is on how marketing and labels affect food choice and consumption. In addition, she is also very interested in how brands use TV ads to pull up their brand perception while pushing down rival’s brand perceptions.

Selected Publications
  • Liaukonyte, J. Teixeira, T., Wilbur. K. (2015). Television Advertising and Online Shopping. Marketing Science, 34(3), 311-330.
  • Anderson, S., Ciliberto, F., & Liaukonyte, J. (2013) Information Content of Advertising: Theory and Empirical Evidence. International Journal of Industrial Organization 31(5), 355-367.
  • Rickard, B.J., Liaukonyte, J., Kaiser, H.M. & Richards, T.J. (2011). Consumer response to commodity-specific and broad-based promotion programs for fruits and vegetables. American Journal of Agricultural Economics 93(5), 1312–1327.
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William Schulze

William Schulze, PhD

Behavior & Sustainability

Bill’s research focuses on behavioral anomalies and public and environmental goods. As one of the founding pioneers of experimental work in economics, his work brings a new understanding of economic behavior. Bill is a world class expert in using laboratory economic experiments and psychology to aid in the design of economic institutions and mechanisms. Currently he is exploring the role of emotions in economic decision-making, where he explores how loss aversion affects our consumption decisions.

Selected Publications
  • Schulze, W.D., Maertens, A., & Wansink, B. (2013). Eating Dogfood: Examining the Relative Roles of Reason and Emotion. Journal of Economics Behavior & Organization, 92(August), 202-213.
  • Keisner, D. K., Messer, K. D., Schulze, W. D., & Zarghamee, H. (2013). Testing Social Preferences for an Economics “Bad”: An Artefactual Field Experiment. The Scandinavian Journal of Economics, 115(1), 27-61.
  • Schulze, W. D., & Wansink, B. (2012). Toxics, Toyotas, and Terrorism: the Behavioral Economics of Fear and Stigma. Risk Analysis, 32(4), 678 – 694.
  • D’Arge, R. C., Schulze, W. D., & Brookshire, D. S. (1982). Carbon Dioxide and Intergenerational Choice. The American Economic Review, 72(2), 251 – 256.
  • Schulze, W. D., D’Arge, R. C., & Brookshire, D.S. (1981). Valuing Environmental Commodities: Some Recent Experiments. Land Economics, 57(2), 151 – 172.
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Alex Susskind

Alex Susskind, PhD

Behavioral Marketing

Professor Alex Susskind joined the faculty at Cornell’s Hotel School in 1998. He earned his Ph.D. in Communication from Michigan State University with a specialization in organizational communication and an MBA with a concentration in personnel and human relations. Alex is a trained chef with a degree in Culinary Arts from The Culinary Institute of America.

Professor Susskind teaches undergraduate and graduate courses primarily addressing the operational and strategic elements of the restaurant business. He also teaches courses through the Hotel School’s Executive Education Program and eCornell. Professor Susskind’s research examines customer-service provider interaction looking at the influences of elements such as service process design and management and the use customer-facing technology.

Selected Publications
  • Susskind, A. M., Kacmar, K. M. and Borchgrevink, C. P. (in press). The Relationship of Service Providers’ Perceptions of Service Climate to Guest Satisfaction, Guest Return Intentions, and Firm Performance. Cornell Hospitality Quarterly. Article first published online: May 28, 2018.
  • Susskind, A. M., Kacmar, K. M. and Borchgrevink, C. P. (2018). Guest-Server-Exchange Model (GSX) and Organizational Performance: A Look at the Connection Between Service Climate and Unit-Level Sales In Multiunit Restaurants. Journal of Hospitality and Tourism Research, 42 (1), 100-110. Awarded “JHTR Best Paper Award 2017” by ICHRIE.
  • Susskind, A. M. and Curry, B. (2016). An Examination of Customers’ Attitudes About Tabletop Technology In Full-Service Restaurants. Service Science, 8(2), 203–217.
  • Susskind, A. M, Bonn, M. A., Furr, H. L. and Lawrence, B. (2016). A Review of Regional Contrasts in Consumers’ Attitudes and Behavior Following the BP Oil Spill. Cornell Hospitality Quarterly, 57 (1), 66-81.
  • Susskind, A. M. (2015). Communication Richness: Why Some Guests Complaints Go Right to the Top—and Others Do Not. Cornell Hospitality Quarterly, 56 (3) 320-331.
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Kaitlin Woolley

Kaitlin Woolley, PhD

Behavioral Marketing

Kaitlin is an assistant professor of marketing in the S.C. Johnson Graduate School of Management where she conducts innovative research in the field of consumer behavior and marketing. Her research generally falls into two streams. In one line of research, she examines the factors that influence consumer goal pursuit, for example, how focusing on the positive taste of healthy foods can increase healthy food consumption. In her other research, she examines the influential role food plays in the formation of social bonds. She holds a PhD and an MBA from the University of Chicago - Booth School of Business, and a Bachelors’ degree in Psychology from Cornell University.

Selected Publications
  • Woolley, K. and Fishbach, A. (2018). It’s About Time: Earlier Rewards Increase Intrinsic Motivation. Journal of Personality and Social Psychology, 114 (6), 877-890.
  • Woolley, K. and Risen, J. (2018). Closing your Eyes to Follow your Heart: Avoiding Information to Protect a Strong Intuitive Preference. Journal of Personality and Social Psychology, 114 (2), 230-45.
  • Woolley, K. and Fishbach, A. (2017). A Recipe for Friendship: Similar Food Consumption Promotes Trust and Cooperation. Journal of Consumer Psychology, 27 (1) 1-10.
  • Woolley, K. and Fishbach, A. (2017). Immediate Rewards Predict Adherence to Long-Term Goals. Personality and Social Psychology Bulletin, 43 (2), 151-62.
  • Woolley, K. and Fishbach, A. (2016). For the Fun of It: Harnessing Immediate Rewards to Increase Persistence in Long-Term Goals. Journal of Consumer Research, 42 (6), 952-66.
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Scott Yonker

Scott Yonker, PhD

Scott's primary research interests are in the areas of corporate finance, behavioral finance, and investments. Utilizing tools from psychology, sociology, and economics, Scott investigates how identifiable differences in “key” market players impact the important decisions that they make. Most recently, Scott investigates the importance of trust in the investment adviser industry, showing that the Bernard Madoff scandal had long lasting spillover effects on asset allocations of investors who weren’t directly affected by the fraud.

Selected Publications
  • Bernile, G., Bhagwat, V., & Yonker, S.E. (2016) Board Diversity, Firm Risk, and Corporate Policies. Working Paper Dyson School of Applied Economics & Management, Cornell University Ithaca, NY.
  • Gurun, U., Stoffman, N., & Yonker, S. (2015). Trust Busting: The Effect of Fraud on Investor Behavior. Kelley School of Business Research Paper, 15(70).
  • Pool, V. K., Stoffman, N., & Yonker, S. E. (2015). The People in Your Neighborhood: Social Interactions and Mutual Fund Portfolios. Journal of Finance. 70(6), 2679–2732.
  • Cronqvist, H., Makhija, A., & Yonker, S. E. (2012). Behavioral Consistency in Corporate Finance: CEO Personal and Corporate Leverage. Journal of Financial Economics, 103(1), 20-40.
  • Pool, V. K., Stoffman, N., & Yonker, S. E. (2012). No Place Like Home: Familiarity in Mutual Fund Manager Portfolio Choice. Review of Financial Studies. 25(8), 2563-2599.
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