John W. Payne

John W. Payne

Professor of Business Administration

External Address: 
Fuqua Sch of Bus, Durham, NC 27708
Internal Office Address: 
Box 90120, Durham, NC 27708-0120


John W. Payne is the Joseph J. Ruvane Professor of Business Administration at the Fuqua School of Business, Duke University. He also has 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.

Education & Training

  • Ph.D., University of California - Irvine 1973

  • M.A., University of California - Irvine 1972

  • B.A., University of California - Irvine 1969

Payne, John W., et al. “Note—Further Tests of Aspiration Level Effects in Risky Choice Behavior.” Management Science, vol. 27, no. 8, Institute for Operations Research and the Management Sciences (INFORMS), Aug. 1981, pp. 953–58. Crossref, doi:10.1287/mnsc.27.8.953. Full Text

Crum, Roy L., et al. “Risk-Seeking Behavior and Its Implications for Financial Models.” Financial Management, vol. 10, no. 5, Wiley, 1981, pp. 20–20. Crossref, doi:10.2307/3664851. Full Text

Laughhunn, D. J., et al. “MANAGERIAL RISK PREFERENCES FOR BELOW-TARGET RETURNS.Management Science, vol. 26, no. 12, Jan. 1980, pp. 1238–49. Scopus, doi:10.1287/mnsc.26.12.1238. Full Text

Payne, J. W., et al. “TRANSLATION OF GAMBLES AND ASPIRATION LEVEL EFFECTS IN RISKY CHOICE BEHAVIOR.Management Science, vol. 26, no. 10, Jan. 1980, pp. 1039–60. Scopus, doi:10.1287/mnsc.26.10.1039. Full Text

Payne, J. W., and M. L. Braunstein. “Risky choice: An examination of information acquisition behavior.Memory & Cognition, vol. 6, no. 5, Sept. 1978, pp. 554–61. Epmc, doi:10.3758/bf03198244. Full Text

Payne, J. W., et al. “Exploring predecisional behavior: An alternative approach to decision research.” Organizational Behavior and Human Performance, vol. 22, no. 1, Jan. 1978, pp. 17–44. Scopus, doi:10.1016/0030-5073(78)90003-X. Full Text

Carroll, J. S., and J. W. Payne. “Crime seriousness, recidivism risk, and causal attributions in judgments of prison term by students and experts.” Journal of Applied Psychology, vol. 62, no. 5, Oct. 1977, pp. 595–602. Scopus, doi:10.1037/0021-9010.62.5.595. Full Text

Payne, J. W. “Task complexity and contingent processing in decision making: An information search and protocol analysis.” Organizational Behavior and Human Performance, vol. 16, no. 2, Jan. 1976, pp. 366–87. Scopus, doi:10.1016/0030-5073(76)90022-2. Full Text

Payne, J. W. “Relation of perceived risk to preferences among gambles.” Journal of Experimental Psychology: Human Perception and Performance, vol. 1, no. 1, Jan. 1975, pp. 86–94. Scopus, doi:10.1037/0096-1523.1.1.86. Full Text

Payne, J. W. “Alternative approaches to decision making under risk: Moments versus risk dimensions.” Psychological Bulletin, vol. 80, no. 6, Dec. 1973, pp. 439–53. Scopus, doi:10.1037/h0035260. Full Text