Martijn de Jong, Professor of Marketing Research at Erasmus School of Economics, is one of three recipients of the annual JMR Paul E. Green Award as co-author of the article A Bounded Rationality Model of Information Search and Choice in Preference Measurement, which first appeared in the April 2015 issue (Vol. 52, No. 2) of Journal of Marketing Research.
This triple-authored article was written with Liu (Cathy) Yang of HEC Paris and Olivier Toubia of Columbia Business School. The three were selected as recipients of the annual Paul E. Green Award for the article which highlights a dynamic discrete choice model which endogenizes eye movements as an outcome of forward-looking utility maximization behaviour under bounded rationality. As a result, it improves out-of-sample predictions in preference measurement tasks, enabling researchers and practitioners to use shorter questionnaires and allowing for better discrimination between attributes. This dynamic discrete choice model of information search and choice under bounded rationality extends the existing directed cognition model of Gabaix et al. (2006). The model also captures information-processing features such as fatigue, proximity effects, and imperfect memory encoding on the individual level by applying a hierarchical Bayesian framework.
The award honours the Journal of Marketing Research article, published in 2015, that demonstrates the most potential to contribute significantly to the practice of marketing research. The 2015 Paul E. Green Award was presented to Liu (Cathy) Yang, Olivier Toubia and Martijn De Jong, at the AMA Marketing Academic Conference, held in Atlanta in August 2016.
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For further information please contact: Ronald de Groot, Communication Officer at Erasmus School of Economics. rdegroot@ese.eur.nl, 06-53 641 846