John W. Payne
Professor Emeritus of Business Administration
Overview
John W. Payne is the Joseph J. Ruvane Professor Emeritus of Business Administration at the Fuqua School of Business, Duke University. He also had appointments as a Professor of Psychology and Neuroscience and as a Professor of Law at Duke University.
His education includes a B.A. 1969, M.A. 1972, Ph.D. 1973 in Psychology from the University of California, Irvine. He held a position as a postdoctoral fellow in Cognitive Psychology at Carnegie-Mellon University, 1973-74.
Professor Payne’s research deals with how people make decisions, and how decision making might be improved. His particular subfield of interest is decision-making under risk. He has authored or edited four books, including The Adaptive Decision Maker, and more than a 100 additional journal articles and book chapters.
He teaches courses on management and decision making.
Among his honors, Professor Payne has been elected President of the Judgment and Decision Society. He has won the Leo Melamed Prize for scholarship at the University of Chicago, for the most significant research by business school faculty. He was awarded the first JCR award for long-term contribution to consumer research He has been selected as a Fellow, American Psychological Association, 2007, and a Fellow, American Psychological Society, 1995.
Selected Grants
From Phenotype to Mechanism: Mapping the Pathways underlying Risky Choice awarded by National Institutes of Health (Advisor). 2009 to 2011
Verbal Protocol Analysis of Cost Valuation Responses awarded by Environmental Protection Agency (Principal Investigator). 1995 to 1997
Task Stress and Decision Behavior awarded by National Science Foundation (Principal Investigator). 1994 to 1997
Task Stress and Decision Behavior awarded by National Science Foundation (Principal Investigator). 1994 to 1997
Task Stress and Decision Behavior awarded by National Science Foundation (Principal Investigator). 1994 to 1996
Adaptive Strategies for Decisions awarded by Office of Naval Research (Principal Investigator). 1979 to 1990
Adaptive Stragtegies for Decisions awarded by Office of Naval Research (Principal Investigator). 1979 to 1989
Payne, J. W., et al. Punitive Damages: How Juries Decide. University of Chicago Press, 2002.
Luce, M. F., et al. Tradeoff Difficulty: Determinants and Consequences for Consumer Decisions. Vol. 1, 2001.
Payne, John W., et al. The Adaptive Decision Maker. Cambridge University Press, 1993.
Payne, J. W. Cognition and Social Behavior. Erlbaum, 1976.
Venkatraman, V., et al. “Neuroeconomics of risky decisions: From variables to strategies.” Decision Making, Affect, and Learning: Attention and Performance XXIII, 2011. Scopus, doi:10.1093/acprof:oso/9780199600434.003.0007. Full Text
Payne, J. W., and V. Venkatraman. “Opening the Blackbox: Process Tracing in Decision Research.” Handbook of Process Tracing Methods in Decision Making, edited by M. Shulte-Mecklenbeck et al., 2011.
Luce, M. F., et al. “Consumer Decision Making: A Choice Goals Approach.” Handbook of Consumer Psychology, edited by C. Haugtvedt et al., 2008.
Bettman, J. R., and J. W. Payne. “Walking with the Scarecrow: The Information-Processing Approach to Decision Research.” Blackwell Handbook of Judgment and Decision Making, edited by D. Koehler and N. Harvey, 2004, pp. 110–32.
Bettman, J. R., and J. W. Payne. “The Emotional Nature of Decision Trade-Offs.” The Encyclopedia of Cognitive Silence, edited by L. Nadel, vol. 1, Nature Publishing Group, 2002, pp. 500–04.
Payne, J. W., and J. R. Bettman. “Choice selection.” Encyclopedia of Cognitive Science, edited by L. Nadel, Nature Publishing Group, 2002.
Payne, J. W., et al. “The Emotional Nature of Decision Trade-offs.” Wharton on Making Decisions, Wiley, 2001, pp. 17–35.
Bettman, J. R., and J. W. Payne. “Preferential Choice and Adaptive Strategy Use.” Bounded Rationality: The Adaptive Toolbox, edited by G. Gigerenzer and R. Selten, MIT Press, 1999, pp. 113–14.
Payne, J. W., et al. “Behavioral Decision Research: An Overview.” Measurement, Judgment, and Decision Making, Elsevier, 1998, pp. 303–59.
Payne, J. W. “The Scarecrow's search: A cognitive psychologist's perspective on organizational decision making.” Organizational Decision Making, edited by Z. Shapira, Cambridge University Press, 1996, pp. 353–74.
Pages
Atlas, S. A., et al. “Time preferences and mortgage choice.” Journal of Marketing Research, vol. 54, no. 3, June 2017, pp. 415–29. Scopus, doi:10.1509/jmr.14.0481. Full Text
Shu, S. B., et al. “Consumer preferences for annuity attributes: Beyond net present value.” Journal of Marketing Research, vol. 53, no. 2, Apr. 2016, pp. 240–62. Scopus, doi:10.1509/jmr.13.0004. Full Text
Kwak, Y., et al. “The rational adolescent: Strategic information processing during decision making revealed by eye tracking.” Cognitive Development, vol. 36, Oct. 2015, pp. 20–30. Manual, doi:10.1016/j.cogdev.2015.08.001. Full Text Open Access Copy
Soll, Jack B., et al. “Outsmart Your Own Biases.” Harvard Business Review, vol. 93, no. 5, HARVARD BUSINESS SCHOOL PUBLISHING CORPORATION, May 2015, pp. 64–71.
Venkatraman, V., et al. “An overall probability of winning heuristic for complex risky decisions: Choice and eye fixation evidence.” Organizational Behavior and Human Decision Processes, vol. 125, no. 2, Nov. 2014, pp. 73–87. Scopus, doi:10.1016/j.obhdp.2014.06.003. Full Text
Huber, J., et al. “Let's be honest about the attraction effect.” Journal of Marketing Research, vol. 51, no. 4, Jan. 2014, pp. 520–25. Scopus, doi:10.1509/jmr.14.0208. Full Text
Payne, J. W., et al. “Life expectancy as a constructed belief: Evidence of a live-to or die-by framing effect.” Journal of Risk and Uncertainty, vol. 46, no. 1, Feb. 2013, pp. 27–50. Scopus, doi:10.1007/s11166-012-9158-0. Full Text
Simonson, I., et al. “Comparison selection: An approach to the study of consumer judgment and choice.” Journal of Consumer Psychology, vol. 23, no. 1, Jan. 2013, pp. 137–49. Scopus, doi:10.1016/j.jcps.2012.10.002. Full Text
Simonson, I., et al. “Directions for judgment and decision making research based on comparison selection: Reply to Arkes, Johnson, and Kardes.” Journal of Consumer Psychology, vol. 23, no. 1, Jan. 2013, pp. 161–63. Scopus, doi:10.1016/j.jcps.2012.10.006. Full Text
Johnson, E. J., et al. “Beyond nudges: Tools of a choice architecture.” Marketing Letters, vol. 23, no. 2, June 2012, pp. 487–504. Scopus, doi:10.1007/s11002-012-9186-1. Full Text