A default option is the choice alternative a consumer receives if he/she does not explicitly specify otherwise. In this article we argue that defaults can invoke a consumer's "marketplace metacognition," his/her social intelligence about marketplace behavior. This metacognitive account of...

Schooling may build human capital not only by teaching academic skills, but by expanding the capacity for cognition itself. We focus specifically on cognitive endurance: the ability to sustain effortful mental activity over a continuous stretch of time. As motivation, we document that globally...

Schooling may build human capital not only by teaching academic skills, but by expanding the capacity for cognition itself. We focus specifically on cognitive endurance: the ability to sustain effortful mental activity over a continuous stretch of time. As motivation, we document that globally...

In this essay we review the evidence from marketing research about price presentation of consumer products and discuss how these lessons have been applied—consciously or unconsciously—in the design of the U.S. tax system. Our perspective is that, in most situations, the designers of the tax...

Registrars' offices at most universities face the daunting task of allocating course seats to students. Since demand exceeds supply for many courses, course allocation needs to be done equitably and efficiently. Many schools use bidding systems where student bids are used both to infer...

We propose that features of static visuals can lead to perceived movement (via dynamic imagery) and prepare the observer for action. We operationalize our research within the context of warning sign icons and show how subtle differences in iconography can affect human behavioral response. Across...

Firms of varying size can produce the same product. Do consumers make inferences about products based on firm size? We focus on perceptions of product naturalness and show, in four studies, that products made by smaller firms are perceived to be more natural — whether they are directly...

Five experiments show that less physical involvement in obtaining food leads to less healthy food choices. We find that when participants are given the choice of whether or not to consume snacks that they perceive as relatively unhealthy, they have a greater inclination to consume these snacks...

This paper provides a framework for retailer pricing and ordering decisions in a dynamic category management setting. In this regard, the key contributions of this paper are as follows. First, we develop a multi-brand ordering and pricing model that endogenizes retailer forward buying and...