Professor Cathy Yang lands prestigious Paul E. Green Award for best article in the Journal of Marketing Research
Dr. Cathy Liu Yang, Assistant Professor at HEC Paris, has won the Paul E. Green Award for her article “A Bounded Rationality Model of Information Search and Choice in Preference Measurement”, published in the April 2015 issue of the Journal of Marketing Research.
Co-authored with Olivier Toubia and Martijn G. De Jong, the article highlights a dynamic discrete choice model which endogenizes eye movements as an outcome of forward-looking utility maximization behavior 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 honors 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 shall be presented to Cathy Yang, and co-authors Olivier Toubia and Martijn De Jong, at the upcoming AMA Marketing Academic Conference, held in Atlanta this August.